Footwear developer Phoenix completes acquisition of Chambers Belt Company
30 Jun '05
3 min read
Footwear and apparel firm Phoenix Footwear Group Inc announced that it has completed its acquisition of the Chambers Belt Company, a leading manufacturer of men's and women's belts and accessories.
Founded in 1947 and headquartered in Phoenix, Arizona, Chambers manufactures and distributes men's and women's belts and accessories spanning traditional and western styles, as well as a growing children's line. The company posted full-year 2004 revenues of $40 million. Chambers' products are highly diversified in terms of style and target audience, and the company benefits from a broad distribution network.
Chambers' products can be found in retail outlets such as Wal-Mart, Kmart, Nordstrom, Sheplers and Pacific Sunwear. James R. Riedman, Chairman of Phoenix Footwear, commented, "We welcome Charlie Stewart, Kelly Green, Dave Matheson and the entire Chambers team to Phoenix Footwear.
Chambers is a well-run company with a commitment to profitable growth and a proven track record in the retail industry spanning close to six decades. We believe our shareholders will benefit from this highly complementary acquisition and we are thrilled to have Chambers as part of our portfolio of brands."
2005 Business Outlook The following statements are based on current information and expectations, and actual results may differ materially. The Company can give no assurances that such expectations will prove correct. These statements do not include the potential impact of any mergers, acquisitions or other business combinations that may be completed after June 29, 2005.
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