Crocs Mergers and Acquisitions Presentation Deck
Purchase Price (1)
Valuation Multiple
HEYDUDE Revenue
Closing
Financing
Leverage
Accretion
crocs™
TRANSACTION OVERVIEW
$2.5 billion
Less than 15x EV/EBITDA
~$570M Revenue for 2021E
1Q 2022, subject to customary closing conditions and regulatory approval
Expected acquisition financing of:
• $2.0B Term Loan B
●
$450M Crocs shares to be issued to the seller(2)
• $50M RCF draw
●
~3x Net Debt / PF 2021E EBITDA
Commitment to use excess free cash flow for debt repayment
No share repurchase in 2022 and until gross leverage is <2.0x
Immediately accretive to Crocs earnings (³)
Expect -$700-$750M of PF 2022 revenue for HEYDUDE
1. Subject to customary closing adjustments
2. Based on the average of the daily volume-weighted average price of our stock for the 20 days immediately prior to the signing date.
3. Immediate accretion to earnings includes no synergy or integration cost assumptions between Crocs and HEYDUDE.
20View entire presentation