Pacific Brands paid $61.8 million in cash for the business (subject to confirmation of Sheridan’s net asset position at completion), financed through existing debt facilities. The transaction comprises: 100 per cent of the issued shares of Sheridan Australia Pty Limited, Sheridan NZ Limited and Sheridan UK Limited; the assumption of the liabilities of the acquired business, except for secured debt; and certain assets owned by other entities within the Sheridan group of companies.