TEL AVIV, Israel--(BUSINESS WIRE)--Updating release to remove The Bogart Group's boilerplate.
“We’re very pleased to be adding The Bogart Group to our strong
portfolio of intimate apparel, as expanding our footprint in the bra
category has been a long-term goal for Delta Galil”
The corrected release reads:
DELTA GALIL TO ACQUIRE INTIMATE APPAREL LEADER THE BOGART GROUP
Expands Delta’s Footprint in Profitable Fashion Bra and Swimwear
Categories
Acquisition Expected to Close in the beginning of Q3 and Be Accretive
to Earnings in 2020
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, activewear and denim, today announced that it has signed an
agreement to acquire intimate apparel leader, The Bogart Group
(“Bogart”).
Headquartered in Hong Kong, Bogart is a vertically integrated global
leader in the design, development and manufacturing of fashion bras, and
one of the top leading names in intimate apparel, sports and swimwear.
The Company is a preferred strategic partner for some worldwide leading
brands such as Victoria’s Secret, PVH, Jockey, Adore Me, Vanity Fair,
Hanes, among others. In addition to The Bogart Group, Delta Galil will
acquire the Company’s subsidiaries Brunet, a leading lace manufacturer;
and B&B, a leading padding manufacturer.
With $230 million in consolidated sales in 2018 for The Bogart Group,
Delta Galil expects the deal to show a profit in the second half of 2019
and to be accretive to earnings in 2020. The acquisition is expected to
close in the beginning of Q3.
“We’re very pleased to be adding The Bogart Group to our strong
portfolio of intimate apparel, as expanding our footprint in the bra
category has been a long-term goal for Delta Galil,” said Isaac Dabah,
CEO of Delta Galil. “This is a unique strategic opportunity, where I see
great potential for Delta to leverage Bogart’s strong market position to
further build its company, while also helping Delta’s business units
expand to the next phase of growth.”
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;
babywear, activewear, sleepwear, and leisurewear. Delta Galil also
designs, develops, markets and sells branded denim apparel under the
brand 7 For All Mankind®, and ladies apparel under the brand Splendid®.
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.
