Home / Knowledge / News / Apparel/Garments / Delta Apparel to purchase Fun Tees for good business

Delta Apparel to purchase Fun Tees for good business

Aug '06
Delta Apparel Inc announced that it has signed an asset purchase agreement to acquire substantially all of the net assets of privately held Fun-Tees Inc.

The acquisition is expected to close on or around Monday, October 2, 2006, subject to the satisfaction of various closing conditions.

The purchase price for the transaction is $20 million in cash, subject to certain post-closing adjustments, including an adjustment based on the actual working capital purchased.

Delta Apparel expects to finance the purchase through an amendment to its asset-based secured revolving credit facility.

The agreement can be terminated under various circumstances, including, among others, by Delta Apparel if it is unable to obtain satisfactory financing and by either party if the transaction fails to close by October 31, 2006.

Fun-Tees Inc is in the business of designing, manufacturing, marketing, and selling private labeled custom knit t-shirts primarily to major branded sportswear companies.

Delta Apparel believes that the strength of Fun-Tees is its flexibility to custom-manufacture products in a variety of garment styles, fabrics and colors. Fun-Tees was founded in 1972 and is headquartered in Concord, North Carolina.

Delta Apparel expects to integrate the Fun-Tees textile operations into its Maiden, North Carolina facility during fiscal year 2007 and to maintain the Fun-Tees off-shore cutting, sewing and decorating facilities located in El Salvador and Campeche, Mexico.

Must ReadView All

Pic: Shutterstock

Textiles | On 1st Mar 2021

AfCFTA rules of origin talks to conclude in June: Egyptian

Talks are currently under way between member states of the African...

Pic: Fraser Group

Retail | On 1st Mar 2021

Frasers Group anticipates £100-mn hit from lockdown

Frasers Group recently said it could take a hit in excess of £100...

Pic: Shutterstock

Retail | On 1st Mar 2021

TJX Companies FY21 sales fall 4% to $32 bn

The TJX Companies, a US-based leading off-price apparel and home...

Interviews View All

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Top executives, Retailers

Top executives

Weak rupee breeds inflation

Textile Industry, Head honchos

Textile Industry
Head honchos

Industry could be looking at 10%-15% job losses

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Carmen Makover,

Carmen Makover

Leading the digital textile printing industry, Israel-based Kornit...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Justin Gutierrez, INDA

Justin Gutierrez

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Pierre Wiertz, EDANA

Pierre Wiertz

EDANA, the international association serving the nonwovens and related...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search