Kramer Levin Client Steve Madden Completes Acquisition of Cejon

Kramer Levin client footwear and accessories company Steven Madden Ltd. announced on May 26, 2011 that it completed its $30 million buyout of the Cejon group of design and marketing companies. The deal includes Cejon Inc., Cejon Accessories Inc. and New East Designs LLC (together, “Cejon"). Cejon is a market-leading designer and marketer of cold weather accessories, fashion scarves, wraps and other trend accessories. The acquisition was completed for $30 million in cash subject to a working capital adjustment plus certain earn-out provisions based on financial performance through June 30, 2016.

The Kramer Levin team was led by Corporate partner James A. Grayer and associate Jodi Rosensaft. Others on the team were Corporate associates Amanda Webber and Jay Robert; Intellectual Property partner Erica D. Klein and associate Carole Klinger; Tax partner Barry Herzog and associate Mindi R. Guttman; Employee Benefits associate Carissa R.Trast and Real Estate associate Ruben M. Ravago.