Jones Apparel Group, Inc. (Jones) has announced that its Canadian subsidiary has entered into a definitive agreement with Modes Alto-Regal to acquire the Canadian licenses for several Polo Ralph Lauren brands, eight retail stores and other related assets. Modes Alto-Regal, a privately-held Canadian entity, has held the earliest of the licenses since 1977. The licenses include Polo Jeans Company, Polo by Ralph Lauren, Polo Sport for Men, and Polo Golf, and will be long running agreements. These businesses generated sales in excess of US$25 million in 1999.
Cassels Brock & Blackwell LLP represented Modes Alto-Regal on the deal. Their team included Sheldon Plener (corporate), Jason Bullen (corporate), John McGowan (employment) and Christopher Norton (tax). Jones was represented by Leslie Giller of Goodman & Carr.