USA: Wilsons Leather Buys El Portal For $15.4m
The terms of the transaction included a $15.4m payment to the El Portal Group, in addition to the assumption of $13.8m in debt. The acquisition will add approximately $75m to Wilsons Leather's 2001 revenues, and will increase 2001 earnings per share by approximately fifteen to twenty cents. El Portal's current management team will continue to lead its operations from its Las Vegas, Nevada facility.
About Wilsons Leather
Wilsons Leather is the leading specialty retailer of leather outerwear, apparel and accessories in the United States. As of September 30, 2000, Wilsons Leather operated 564 retail stores in 44 states, Canada and England, including 466 mall stores, 69 outlet stores, and 29 airport locations. The company's website at www.wilsonsleather.comoffers leather apparel and accessories, as well as company background and financial information.
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