USA: Sunglass Hut International Signs Definitive Agreement for the Acquisition of Watch World International
Sunglass Hut International (Nasdaq:RAYS - news), today announced that it has signed a definitive agreement for the acquisition of Watch World International, Inc., a 118 national chain of specialty watch stores and operator of WatchWorld.com, based in New York, New York. The agreement is subject to customary closing conditions and Hart Scott Rodino approval and is anticipated to close in June 2000. Sunglass Hut International is recognized as a leader in specialty niche retailing with 1,870 locations including 1,514 Sunglass Hut locations, 110 Watch Station stores and 246 combination sunglass and watch stores around the world as of April 29, 2000. The addition of Watch World will add another 118 stores nationwide. Located in a wide variety of high traffic shopping and tourist destinations, Sunglass Hut and Watch Station stores offer consumers the latest branded products at competitive prices along with outstanding customer service. Sunglass Hut stores are located throughout the United States, Canada, the Caribbean, Europe, Australia, New Zealand and Singapore. Sales for fiscal year 1999 totaled $635.6 million and generated EBITDA of $80.1 million. Additional information about products, locations and corporate news is available at
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