ISRAEL: Delta Galil snaps up KN Karen Neuberger
Intimate apparel maker Delta Galil has acquired assets of sleepwear brand KN Karen Neuberger, from Russell Newman Brands in a deal worth US$4m.
The agreement includes ownership of the Karen Neuberger brand, inventory of finished products and open purchase orders related activities, the company told just-style.
The KN Karen Neuberger brand joins the Tommy Hilfiger and Lucky intimates businesses marketed by D2 Brands, a division of Delta Galil.
"I'm a huge fan of the brand and I'm confident in its continued success with Delta Galil," said Isaac Dabah, CEO of Delta Galil Industries Ltd.
"Using our strength in fabric innovation, marketing and distribution, Delta intends to expand the Karen Neuberger brand on a global scale."
"We expect sales to be in the US$20m range for 2012, and for this business to be accretive to the company's profits in 2012."
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