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Designer & marketer Jeantex acquires Yves Castaldi
07 Jan '06
2 min read
Corporation engaged in the design, development, manufacturing and marketing of consumer products for apparel markets worldwide, Jeantex Group Inc announced that it has completed the previously announced acquisition of a majority interest in Yves Castaldi Corporation.
Under the terms of the acquisition agreement, Jeantex acquired 51 percent ownership of Yves Castaldi Corp for 10 million shares of Jeantex restricted common stock and $650,000 in cash, which includes provisions for Yves Castaldi Corp's working capital.
The 10 million shares will be vested on a pro-rated basis, based on a minimum of $10.0 million in revenues and $2.5-$3.0 million in net profit generated by Yves Castaldi Corp in the next twelve months.
Henry Fahman, Chairman of Jeantex Group Inc said, "They are pleased to complete their acquisition of Yves Castaldi Corporation.
They believe this is an excellent fit between their two organizations and they are committed to using their infrastructure to maximize Yves Castaldi's position in the marketplace.
The opportunities this acquisition creates for their business is compelling and represents an important step in their growth strategy."
Jeantex Group Inc, through its wholly owned subsidiary Jeantex Inc, engages in the design, development, manufacturing, and marketing of consumer products for the apparel markets worldwide.
The Company also manufactures and markets new lines of uniquely designed high-quality jeans, T-Shirts, and accessories under the "Bone People" trademark, which are being marketed in Germany, Japan, Portugal, Scandinavia, Spain, and the US.
Under the terms of the acquisition agreement, Jeantex acquired 51 percent ownership of Yves Castaldi Corp for 10 million shares of Jeantex restricted common stock and $650,000 in cash, which includes provisions for Yves Castaldi Corp's working capital.
The 10 million shares will be vested on a pro-rated basis, based on a minimum of $10.0 million in revenues and $2.5-$3.0 million in net profit generated by Yves Castaldi Corp in the next twelve months.
Henry Fahman, Chairman of Jeantex Group Inc said, "They are pleased to complete their acquisition of Yves Castaldi Corporation.
They believe this is an excellent fit between their two organizations and they are committed to using their infrastructure to maximize Yves Castaldi's position in the marketplace.
The opportunities this acquisition creates for their business is compelling and represents an important step in their growth strategy."
Jeantex Group Inc, through its wholly owned subsidiary Jeantex Inc, engages in the design, development, manufacturing, and marketing of consumer products for the apparel markets worldwide.
The Company also manufactures and markets new lines of uniquely designed high-quality jeans, T-Shirts, and accessories under the "Bone People" trademark, which are being marketed in Germany, Japan, Portugal, Scandinavia, Spain, and the US.
Jeantex Group Inc
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