US: Guardian Capital takes McCubbin Hosiery majority stake
Private equity firm Guardian Capital Partners has acquired a controlling stake in children's and women's hosiery firm McCubbin Hosiery.
On closure of the acquisition, the existing managers will continue to operate the company, the firms said. The transaction was made for an undisclosed sum.
"Our partnership with Guardian Capital Partners is an exciting milestone for the company," said McCubbin president David McCubbin. "Our strategies and vision for growth are perfectly aligned and together we will leverage our experiences, skills and resources to push the company to even greater levels of innovation and expansion of the business."
Headquartered in Oklahoma City, McCubbin has a portfolio of branded and private label socks, tights, slippers, leg warmers and infant soft sole shoes. The company sells through department stores, mass retailers, warehouse clubs, speciality stores and e-commerce channels.
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