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David’s Bridal Plans to Spin Off Pearl in $350 Million SPAC Deal

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David’s Bridal Plans to Spin Off Pearl in $350 Million SPAC Deal

David’s Bridal plans to separate its Pearl division, with Pearl becoming an independent public company offering a digital wedding planning, media and commerce platform, the company said in a Thursday (Oct. 22) press release.

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To enable this change, David’s Bridal and special purpose acquisition company (SPAC) K&F Growth Acquisition Corp. II have entered into a non-binding letter of intent regarding a proposed business combination that would make Pearl a standalone, publicly traded company, according to the release.

The non-binding letter of intent involves David’s Bridal separating Pearl into a standalone business that will enter into a business combination with K&F and values Pearl at a pro forma enterprise value of about $350 million, the release said.

David’s Bridal and K&F expect to close the proposed transaction in the first half of 2027, though they make no assurances that it will be consummated at all, per the release.

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David’s Bridal retail stores will remain unaffected by the planned separation and will operate as usual. David’s Bridal is expected to remain a material shareholder in Pearl, the release said.

Pearl is expected to be led by Kelly Cook as its CEO and Elina Vilk as its president following the proposed business combination. Cook is currently CEO of David’s Bridal and has been with the company since 2019.


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