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Delta Galil acquires leading German innerwear brand
03 May '12
4 min read
“The financial benefits to Delta Galil are also very significant,” Mr. Dabah noted. “Schiesser's core business has been consistently profitable and the combination will be accretive to Delta Galil's earnings. Schiesser has an efficient supply chain structure and an extremely loyal and stable customer base.
“Schiesser's brand portfolio and operations are a perfect fit with the business model that we have applied successfully in Israel, and we are excited about extending this model to a much larger European market. We see many opportunities to expand Schiesser through product innovation, enhanced distribution and logistics, and development of retail stores and e-commerce activities.”
Schiesser, a privately-held company headquartered in Radolfzell, Germany, will operate as a separate wholly owned business unit of Delta Galil under its existing management team. Rudolf Bündgen, CEO of Schiesser AG, commented, “Since we operate in the same industry, Delta Galil is well known to us.
“We have a similar product and quality philosophy. With Delta Galil, we gain a worldwide operating owner, with whom we can enter new foreign markets more consistently and who will further support us in our marketing and distribution strategy. Likewise, Delta Galil has a lot of experience in intimate apparel, activewear and shapewear, as well as socks. Under the Schiesser brand, we can envision additional product categories.”
The transaction is expected to be concluded in July 2012.
Delta Galil Industries is a global manufacturer and marketer of branded and private label apparel products for men, women and children.
“Schiesser's brand portfolio and operations are a perfect fit with the business model that we have applied successfully in Israel, and we are excited about extending this model to a much larger European market. We see many opportunities to expand Schiesser through product innovation, enhanced distribution and logistics, and development of retail stores and e-commerce activities.”
Schiesser, a privately-held company headquartered in Radolfzell, Germany, will operate as a separate wholly owned business unit of Delta Galil under its existing management team. Rudolf Bündgen, CEO of Schiesser AG, commented, “Since we operate in the same industry, Delta Galil is well known to us.
“We have a similar product and quality philosophy. With Delta Galil, we gain a worldwide operating owner, with whom we can enter new foreign markets more consistently and who will further support us in our marketing and distribution strategy. Likewise, Delta Galil has a lot of experience in intimate apparel, activewear and shapewear, as well as socks. Under the Schiesser brand, we can envision additional product categories.”
The transaction is expected to be concluded in July 2012.
Delta Galil Industries is a global manufacturer and marketer of branded and private label apparel products for men, women and children.
Delta Galil Industries Ltd
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