USA: Wilsons Leather Buys El Portal For $15.4m
Wilsons The Leather Experts today announced that it completed the acquisition of the El Portal Group, a privately-held specialty retailer of premium travel products and accessories, on October 31. 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.
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