Adds 7 For All Mankind, Splendid and Ella Moss to Prominent Portfolio of Brands
Expands Branded Business in Premium Market and Grows Global Footprint
Tel Aviv, June 30, 2016 – 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.