Zeavion to buy Gymboree's global early childhood education business

Chinese-led company Zeavion Holding announced on Tuesday that it will purchase the early childhood development business of Gymboree Corporation, San Francisco-based global provider of children's apparel and early education programs, in a deal worth $127.5 million.

Under a definitive agreement, Gymboree will receive the money in cash proceeds from Zeavion, approximately $80 million net of estimated taxes. The deal is expected to complete by mid-July.

Upon closing of the transaction, Zeavion will own the entire global early childhood development business under the Gymboree Play and Music brand, including its central operations and centers in North America. The company has also agreed to acquire the intellectual property and Play and Music's curriculum and certain related trademarks.