New York—Somewhat of a buying splurge has been going on in the fashion industry. Companies, some already huge such as Hanesbrands, are becoming more so by purchasing large companies that fill a niche that don’t already have.
Hanesbrands acquired a Western European business when it acquires DBApparel, a Paris-based company that once was its colleague under the Sara Lee corporate banner.
Hanesbrands has long coveted European business which it gains through its DBApparel purchase.
Moreover, Hanesbrands said the deal is expected to boost its adjusted operating profit by 21% and add more than $875 million in annual net sales within three or four years of closing.
Similarly Sequential Brands Group will spend about $260.3 million to acquire Galaxy Brands and its brands.
Sequential called the deal a “transformational acquisition” that will position the company as “one of the largest pure-play brand licensing companies in the world.” 12 brands in total, for nearly $2 billion in global retail sales annually, the company said.
These are hardly the last major purchases for the year…stay tuned.
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