US: Russell Corporation Buys Disucs Athletic Brands
The United States Bankruptcy Court for the Western District of Virginia has approved the sale of the worldwide rights to the Discus and Discus Athletic brands from Tultex Corporation to Russell Corporation.The transaction, with an estimated value of US $2,750,000, will be completed before the end of April. With worldwide rights, Russell intends to use the Discus brands in both its domestic and international operations."While we are still in the early stages of development, Discus will certainly help enhance our portfolio of brands and offer access to new consumer segments," said Jack Ward, chairman, president and CEO. "The acquisition of the Discus brands further illustrates our efforts to develop and penetrate markets that provide opportunities for additional business growth."In March, Russell Corp. signed an agreement to acquire the apparel operations of Haas Outdoors, Inc. to create the Mossy Oak Apparel Company to strengthen its position in the outdoor apparel market.
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