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American Apparel & Endeavor Acquisition announce definitive merger agreement
01 Jan '07
3 min read
“This is an exciting time for American Apparel – acquiring the necessary financial foundation will give us the opportunity to realize our bigger dreams," said Dov Charney, American Apparel Founder and CEO. "By leveraging art, technology and design, we will continue to bring people clothes they love to wear. This transaction and the infusion of substantial capital from Endeavor will allow American Apparel to capitalize on the many opportunities in front of us ranging from improving our manufacturing processes to implementing our global growth plans,” said Charney.
“American Apparel is a unique company in the apparel manufacturing and retailing industry with a visionary leader, passionate employees and loyal customers. Its cutting-edge brand building efforts and vertically-integrated 'made in downtown Los Angeles' operation have created significant brand awareness and a 'cult' status worldwide,” said Eric Watson, Chairman of Endeavor Acquisition Corporation.
“American Apparel has a solid top-line strategy with good operating margins and significant expansion potential of its domestic and international store count," said Jonathan Ledecky, President of Endeavor Acquisition Corporation.
“We have a special culture and ethos at American Apparel including a commitment to excellence. I am very excited about sharing my potential good fortune with my fellow employees as well as providing our millions of loyal customers the opportunity to become shareholders through this potential merger,” said Charney.
American Apparel (www.americanapparel.net) is a vertically-integrated manufacturer and retailer of clothing for men, women, kids and dogs. Founded in 1997 by Dov Charney, it is the largest garment factory and T-shirt manufacturer in the United States, employing more than 5,000 people worldwide with 143 retail locations in 11 countries.
“American Apparel is a unique company in the apparel manufacturing and retailing industry with a visionary leader, passionate employees and loyal customers. Its cutting-edge brand building efforts and vertically-integrated 'made in downtown Los Angeles' operation have created significant brand awareness and a 'cult' status worldwide,” said Eric Watson, Chairman of Endeavor Acquisition Corporation.
“American Apparel has a solid top-line strategy with good operating margins and significant expansion potential of its domestic and international store count," said Jonathan Ledecky, President of Endeavor Acquisition Corporation.
“We have a special culture and ethos at American Apparel including a commitment to excellence. I am very excited about sharing my potential good fortune with my fellow employees as well as providing our millions of loyal customers the opportunity to become shareholders through this potential merger,” said Charney.
American Apparel (www.americanapparel.net) is a vertically-integrated manufacturer and retailer of clothing for men, women, kids and dogs. Founded in 1997 by Dov Charney, it is the largest garment factory and T-shirt manufacturer in the United States, employing more than 5,000 people worldwide with 143 retail locations in 11 countries.
American Apparel Inc
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