RTTNews | Nov 2, 2021 07:48AM EDT

07:48 Tuesday, November 2, 2021 (RTTNews.com) - American Eagle Outfitters (AEO), a lifestyle, clothing, and accessories retailer, on Tuesday said it has agreed to acquire Quiet Logistics, Inc., a third-party logistics company, for $350 million in cash. The transaction is expected to be completed by the end of 2021.

AEO projects the transaction to add to earnings in the first full year after concluding the deal. Quiet Logistics will become wholly owned AEO subsidiary, and will continue to run its business independently.

Jay Schottenstein, AEO's Executive Chairman and Chief Executive Officer, commented: "Quiet Logistics has provided significant benefits to AEO over the past year and we are leveraging our healthy cash position to ensure ongoing advantages. Also, as we continue to expand these services to other brands and retailers, we believe the business will scale, generating incremental value for our shareholders."

Centerview Partners served as the financial advisor to AEO with Wachtell, Lipton, Rosen & Katz, and Dentons Cohen & Grigsby serving as legal counsel.

Read the original article on RTTNews ( https://www.rttnews.com/3238286/american-eagle-to-buy-quiet-logistics-in-350-mln-cash-deal.aspx)

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