USA: Active Apparel Group Completes Acquisition Of Everlast

Active Apparel Group announced that, following the special meeting of stockholders held here today, it had completed its previously-announced acquisition of Everlast, the foremost brand in boxing. At the special meeting, the shareholders approved the change in the company's name to Everlast Worldwide Inc, among other matters.George Q Horowitz, chairman and chief executive of Everlast Worldwide, said: "This is a momentous occasion for our company. The change in our corporate name underscores our commitment to building the Everlast brand. We have the management team in place, a strategic plan that we will implement immediately and the financial resources to generate significant and profitable growth for Everlast Worldwide."He concluded: "We are committed to enhancing shareholder value and believe that our plans will help accomplish that goal. Looking ahead, our immediate focus will fall on improving our relationships with our licensees. We will open new geographic markets and, of course, introduce new Everlast products, which will also enhance our image."