US: Hampshire Group buys James Campbell brand
Fashion apparel maker Hampshire Group has added the James Campbell luxury men's wear brand to its portfolio after acquiring the privately held business from Maverick J LLC.
James Campbell operates under the brands James Campbell, J.Campbell, Cultura International and Malibu Cowboy and is sold in stores across the US - with Nordstrom its largest customer.
Hampshire will not realise the full annual benefit of James Campbell's revenues until 2015, but says pro forma annual revenues are around $8m with margins "significantly higher" than Hampshire's core license or manufacturing businesses.
"In December 2013, we announced our strategy of diversifying our product and customer base by adding owned brands into Hampshire's portfolio," said Paul Buxbaum, Hampshire's chief executive officer.
"James Campbell Brands is the first of these acquisitions we hope to consummate in the coming year."
Hampshire Group supplies men's sportswear to department stores, chain stores and mass market retailers under licensed brands, its own proprietary brands and private labels. It also operates a Honduras-based apparel manufacturer Rio Garment, which produces knit tops for men, women and children.
Hampshire Group Acquires James Campbell
February 20, 2014 04:40 PM Eastern Standard Time
NEW YORK--(BUSINESS WIRE)--Hampshire Group, Limited (OTC Markets: HAMP) today announced the acquisition of the privately held James Campbell Brands. The Brands were part of Maverick J, LLC a Rick Solomon Company. James Campbell is a West Coast designer brand positioned in the luxury segment of the men's market. James Campbell operates under the brands James Campbell, J.Campbell, Cultura International and Malibu Cowboy. James Campbell is sold in better stores in the United States with Nordstrom Inc. the largest customer.
"We are very pleased to add the James Campbell brand to Hampshire's portfolio of offerings"
Hampshire will not realize the full annual benefit of James Campbell's revenues until 2015; however James Campbell's pro forma annual revenues are projected to total approximately $8 million with margin generation significantly higher than Hampshire's core license or manufacturing businesses.
"We are very pleased to add the James Campbell brand to Hampshire's portfolio of offerings," said Paul Buxbaum, Hampshire's Chief Executive Officer. "In December 2013, we announced our strategy of diversifying our product and customer base by adding owned brands into Hampshire's portfolio. James Campbell Brands is the first of these acquisitions we hope to consummate in the coming year, as we continue to implement the plan we laid out to shareholders in December 2013."
The Company expects James Campbell's earnings to be immediately accretive to Hampshire's.
Hampshire Group, Limited (www.hamp.com) along with its wholly-owned subsidiaries, Hampshire Brands, Inc. and Rio Garment S.A. is a provider of fashion apparel across a broad range of product categories, channels of distribution and price points. The Company specializes in designing and marketing men's sportswear to department stores, chain stores and mass market retailers under licensed brands, our own proprietary brands and the private labels of our customers. The Company operates a Honduras-based apparel manufacturer, designing, sourcing and manufacturing knit tops for men, women and children.
Original source: www.hamp.com
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