Randa Corp will be positioned as the world's largest supplier of men's accessories once its acquisition of US belt and wallet manufacturer Humpreys has been completed at the end of June.

Randa Corp, the vertically integrated neckwear manufacturer and marketer, has received court approval to purchase the assets of Humphreys, which filed for bankruptcy in April. Humphreys has annual sales in excess of US$100m and holds many valuable licenses such as Levi's, Dockers, Slates, Columbia, Dickies, Resistol, Thom McCann and Joseph Abboud. It is also a principle supplier to a diverse retail base that includes JC Penney, Sears, May Corp, Kohl's, and Nordstrom.
 
The purchase will enable Randa to enhance service levels to its retail partners. Terry Tackett, senior vice president of sales and marketing, said: "We are thrilled to be aligned with Randa. The combination of the largest neckwear company with the largest belt and personal leather goods company will create the dominant resource in the men's accessories business."

Paul F Rosengard, Randa's executive vice president, added: "We are thrilled to be associated with Humphreys; they have a rich heritage, make great product under labels that are synergistic with our own, and share our commitment to in-store service. We have been searching for a men's accessories company like this for some time now and view this acquisition as a great growth opportunity for both companies. Right now, our focus is on supporting the Humphreys team in their quest to deliver fashion-right product in a timely manner. We want to achieve a seamless transition for our valued retail partners."