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Sard Verbinnen & Co. is handling Gap's decision to spin off its fast-growing Old Navy brand, which accounts for about half of its $16.6B revenues, as a separate company.
Richard Fisher, Gap chairman, said Old Navy's business model and customers "have increasingly diverged from our specialty brands over time, and each company now requires a different strategy to thrive moving forward."
The Gap has struggled with higher prices than Old Navy, changing consumer preferences and competition from chains such as Zara and H&M.
It will be core of a yet-to-be-named $9B company with sister brands Banana Republic, Athletica, Intermix and Hill City. More than 230 Gap stores will be closed.
The split-up is expected to be complete in 2020. Both companies will maintain HQ in San Francisco.
SVB's John Christiansen, Meghan Gavigan and Devis Broda handle media for Gap's split-up strategy.
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
Trump Media & Technology Group posted a $238M Q2 loss on $1.7M in revenues. That performance compares to a $20M loss and $883K revenues in the 2025 comparable quarter.
The Brand Amp represents Archer Aviation as it acquires Boeing’s $200M flying-taxi operation in return for a 20 percent stake in the Silicon Valley startup.
