Stratage Law Partners Advised OTC, Its Partners And Kraus Casuals In KKCL's Stake Acquisition Deal

Kewal Kiran Clothing Limited, which has four menswear brands -Killer, Integriti, Lawman Pg3 & easies under its portfolio, has acquired 50% stake in Kraus Casuals Private Limited for Rs 166.51 crore. 

KKCL acquired the Business carried out by and under OTC and its partners, by way of succession (“Succession”). In lieu of the Succession, the partners of OTC were issued shares aggregating to 100% of the share capital of the Company. Pursuant to the Succession, Kewal Kiran Clothing Limited (“KKCL”) acquired shares in the Company aggregating to 50% of the share capital of the Company, by way of primary and secondary investment. The Parties agreed to an earn out linked to the performance of the Company that is to be paid at a specified time period.

Stratage Law Partners advised Oriental Trading Company (“OTC”), its partners and Kraus Casuals Private Limited on the transaction.

The Firm advised on structuring the transaction. · It was involved in drafting, negotiating, reviewing, revising and finalizing the transaction related documentation. · Additionally, Stratage Law Partners helped in evaluating the non-compete provisions and making specific carve outs basis the nature and roles of the parties and ring fencing the operational control of the promoters of the Company i.e. the erstwhile partners.

The transaction team comprised of Managing Partner - Darshan Upadhyay; Senior Partner; Shyam Pandya; Associate Partner; Sharan Sanil and Associate – Meha Patel