USA: Keystone Buys Hosiery Maker Royce
Hosiery company Royce Hosiery Mills Inc, which makes socks for top labels including Nine West, Dockers and Hershey, has been bought by Keystone Holdings LLC for an undisclosed sum.
New York-based Keystone said the deal will see Royce's management board and 250 staff at its production and distribution facilities in West Virginia kept on as operations will remain unchanged.
Keystone, which owns children's apparel company Hartstrings, added Royce enjoyed annual sales of around $65 million last year.
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