Delta Galil to Acquire Contemporary Premium Brands from VF Corp
June 30 2016 - 1:00AM
Business Wire
Adds 7 For All Mankind, Splendid and Ella
Moss to Prominent Portfolio of Brands
Expands Branded Business in Premium Market
and Grows Global Footprint
Delta Galil Industries, Ltd. (DELT/Tel Aviv Stock Exchange,
DELTY.PK/OTCQX), the global manufacturer and marketer of branded
and private label apparel products for men, women and children, as
well as leisurewear and activewear, today announced that it has
signed a definitive agreement to acquire contemporary premium
brands, including the businesses and brands of 7 For All
Mankind®, Splendid® and Ella Moss® from VF
Corporation (NYSE:VFC).
“This transaction reflects our strategic efforts to grow Delta
Galil’s branded business and expand our global footprint,” said
Isaac Dabah, CEO of Delta Galil. “We are thrilled to be adding
three renowned premium brands to our portfolio, as they further
diversify our product offering and distribution channels, while
adding significant strength to our structure. We see tremendous
opportunity to expand the brands’ platform for growth through
continued focus on superior quality, design and innovation.”
The acquisition is projected to add over $300,000,000 in Delta
Galil’s top line annual sales and is expected to be accretive to
Delta Galil’s earnings in 2017. The newly acquired brands join
Delta Galil’s prominent portfolio including P.J. Salvage®,
Schiesser, KN Karen Neuberger®, Nearly Nude®,
LittleMissMatched® and FIX.
7 For All Mankind® is the global leader in the premium
denim market, representing the symbol of the effortless, sexy
sophistication of California style. Founded in 2000, the brand now
includes a full range of denim lifestyle products including
sportswear, footwear, eyewear, handbags, belts and kids that
complement its core business. Its products are distributed globally
through high-end department stores, its own retail locations and a
robust e-commerce channel.
Splendid® and Ella Moss® are leading U.S. premium
sportswear brands focused on contemporary knit tops, with products
sold through premium department and specialty stores, owned retail
stores, upper market retailers and e-commerce. The Splendid®
brand is known for its luxury knit products using soft fabrics,
sexy fit and modern styling. The Ella Moss® brand is an
ultra-feminine knit tops and dresses collection featuring print and
pattern-driven products in bold, bright colors.
About Delta Galil Industries
Delta Galil Industries is a global manufacturer and marketer of
branded and private label apparel products for men, women and
children. Since its inception in 1975, the Company has continually
strived to create products that follow a body-before-fabric
philosophy, placing equal emphasis on comfort, aesthetics and
quality. Delta Galil develops innovative seamless apparel including
bras, shapewear and socks; intimate apparel for women; extensive
lines of underwear for men; activewear, sleepwear and leisurewear.
For more information, visit www.deltagalil.com.
About VF
VF Corporation (NYSE:VFC) is a global leader in the design,
manufacture, marketing and distribution of branded lifestyle
apparel, footwear and accessories. The company’s highly diversified
portfolio of powerful brands spans numerous geographies, product
categories, consumer demographics and sales channels, giving VF a
unique industry position and the ability to create sustainable,
long-term growth for our customers and shareholders. The company’s
largest brands are The North Face®, Vans®, Timberland®, Wrangler®,
Lee® and Nautica®. For more information, visit www.vfc.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein, and while expected,
there is no guarantee that we will attain the aforementioned
anticipated developmental milestones. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include,
but are not limited to, risks and uncertainties associated with:
the impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently;
and other factors detailed in reports filed by the Company.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160629006584/en/
Delta Galil Industries, Ltd.Nissim Douek,
+972-54-5201178Nissim@unik.co.ilorVF CorporationCraig Hodges,
1-336-424-5636Senior Director, Corporate CommunicationsorU.S.
Media:Berns Communications GroupStacy Berns/Danielle Poggi,
1-212-994-4660sberns@bcg-pr.com
VF (NYSE:VFC)
Historical Stock Chart
From Jun 2024 to Jul 2024
VF (NYSE:VFC)
Historical Stock Chart
From Jul 2023 to Jul 2024