TEL AVIV, Israel--(BUSINESS WIRE)--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 completed its
previously announced acquisition of the P.J. Salvage brand and other
assets of California-based Loomworks Apparel, Inc. ("Loomworks"), a
leading sleepwear, loungewear and intimates manufacturer and distributor
with an international following.
“We are pleased to add the well-regarded P.J. Salvage brand and
Loomworks’ other business to the Delta Galil portfolio, thus increasing
our presence in the upper retail market segment and broadening our
global footprint”
The purchased business, now operating as part of U.S. subsidiary Delta
Galil USA, enhances Delta Galil’s leadership position in intimate
apparel, while expanding its strong portfolio of branded businesses,
which includes Schiesser, Karen Neuburger, and LittleMissMatched & Delta
among others.
“We are pleased to add the well-regarded P.J. Salvage brand and
Loomworks’ other business to the Delta Galil portfolio, thus increasing
our presence in the upper retail market segment and broadening our
global footprint,” said Isaac Dabah, CEO of Delta Galil.
P.J. Salvage is widely known for chic style and luxury fabrics, and
pioneered the crossover of bedroom fashion into loungewear and everyday
wear. The brand’s meticulous attention to detail, superior quality, rich
fabrics and flattering fit have made P.J. Salvage a favorite among
celebrities and the fashion-minded. Its “California cool” sensibility is
featured in leading high-end department store chains and specialty
boutiques.
The deal is expected to be accretive to Delta’s earnings.
Ohana & Co. acted as exclusive financial advisor to Delta Galil in this
transaction.
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.
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.
Contacts
Nissim Douek
+972-54-5201178
Nissim@unik.co.il
or
U.S.
Media:
Stacy Berns/Melissa Jaffin
Berns Communications Group
+1-212-994-4660
sberns@bcg-pr.com