USA: Perry Ellis Completes Jantzen Buy
Apparel maker Perry Ellis International has completed its acquisition of swimwear firm Jantzen Inc from VF Corporation. The deal was initially announced on 14 February 2002. At approximately $70 million of annual revenue, the Jantzen acquisition will represent about 20 per cent of Perry Ellis International's revenues and marks the company's first entree into the women's and swimwear markets. The acquisition was financed with a portion of the proceeds from Perry Ellis' $57.0 million private offering of 9 ½ per cent senior secured notes due 2009.
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