USA: Phoenix Completes Altama Buy, DoD Renews Boot Order
Phoenix Footwear Group Inc has announced that it has finalised the acquisition of Altama Delta Corporation, producer of combat and tactical boots.
Phoenix predicts that the acquisition will be accretive to earnings per share, and will update its financial guidance accordingly when it reports its second quarter results.
The acquisition coincided with the Department Of Defence's announcement that it will be renewing its contract with Altama for the production of hot weather infantry boots.
Phoenix Chairman James R. Riedman said: "…we are thrilled to add Altama to our portfolio of footwear and apparel brands."
Companies: Phoenix Footwear Group Inc
Californian designer and developer Phoenix Footwear has had the price it paid for wholly-owned subsidiary Altama Delta reduced by approximately US$4.25m. ...
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