Iconix plans to expand Pillowtex into new categories
04 Oct '07
1 min read
Iconix Brand Group Inc announced that it has closed on the acquisition of Official Pillowtex, LLC, a licensing company that owns a large portfolio of home brands including four primary brands, Cannon, Royal Velvet, Fieldcrest and Charisma and numerous others home brands including St. Mary's and Santa Cruz.
The purchase price for the acquisition was approximately $231 million in cash with contingent payments of up to an additional $15 million in cash based upon the brands surpassing specific revenue targets.
Neil Cole, Chairman and CEO, Iconix, stated, "We are pleased to acquire Pillowtex in a diversifying and transformative acquisition for Iconix. The home sector is a natural progression for Iconix and we plan to infuse these brands with our strategic and innovative marketing as we expand them into new categories."
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
