DELTA GALIL TO ACQUIRE BARE NECESSITIES
Leading Intimates Online Retailer Enhances Delta’s Digital Presence
Acquisition Expected to Close in the Next Few Weeks and Be Accretive to Earnings Next Year
Tel Aviv – August 24, 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 and activewear, today announced that it has signed an agreement to acquire a leading intimates online retailer, Bare Necessities from Walmart, Inc. The transaction is expected to close in the next few weeks and be accretive to earnings next year.
Isaac Dabah, CEO of Delta Galil said, “This transaction reflects our strategic growth objective to diversify our distribution channels. As the digital space currently represents the fastest growing segment in our industry, we are very pleased to acquire such an authority in online intimates. Bare Necessities can significantly enhance Delta Galil’s presence in the digital world, as we continue to pursue growth online. I look forward to partnering with the senior leadership of Bare Necessities to achieve strong, profitable growth.”
Established in 1998, with headquarters outside New York City, Bare Necessities today offers more than 160 brands and 6,400 styles in intimates, women’s swimwear, shapewear, sexy lingerie, sleepwear, and hosiery, among others. Renowned for its expertise in fit and its wide range in sizes, Bare Necessities’ product offering spans Wacoal, Chantelle, SPANX, Calvin Klein and Miraclesuit, with exclusive collections including Birdsong and Camio Mio. Following the deal, the site will offer Delta Galil’s own brands as well.