Destination Maternity Cancels Merger

Destination Maternity (Moorestown, N.J.), which also operates as Motherhood Maternity and A Pea in the Pod, has canceled its merger with French childrenswear retailer Orchestra-Prémaman SA (Montpellier, France).

In 2015, Orchestra offered $25 million in cash and shares for Destination, reports the Philadelphia Business Journal. Orchestra still owns 1.9 million Destination Maternity shares, or 13.7 percent of the company. If merged, the retailers were expected to have $1.1 billion in annual revenue.

The retailers cited “the challenges of satisfying applicable securities regulations in France and in the U.S. as well as the uncertainty as to whether those regulatory requirements could be satisfied without unreasonable effort and expense” for the canceled merger.