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Manhattan Beachwear acquires Apparel Ventures

27
Oct '10
Apparel Ventures Inc. has been acquired by the private equity company Linsalata Capital Partners through Manhattan Beachwear Inc. for an unrevealed amount.

In January, 2010, around 80 percent stake had been sold by Manhattan Beachwear to Linsalata Capital Partners, which is a private equity firm based in Cleveland with a background of making investments in niche apparel.

This acquisition provides Manhattan Beachwear with a remarkable brand list. Apart from its original brand list, which consists of licenses for several other brands and its own brands, the Manhattan Beachwear now includes Apparel Ventures' licensed brands and collections.

The company has emerged as one of the largest swimwear firm but it intends to remain modest and dedicated to its clients. Due to this annexation, the company's list now includes 17 brands excluding the private label brands.

As of now, the brands are expected to function from their own offices. Brand designers are also likely to remain the same but certain operations like finance and IT are probably going to be merged.

The merger has enabled two well known and reputable firms of the swimwear industry to come together. The consolidation of the two companies into a single entity is likely to permit them to get the maximum benefits and extend an unparallel brand as well as product mix to its customers.


Fibre2fashion News Desk-India


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