(Filed Under Financial and General Interest News). Delta Galil Industries Ltd. has announced the termination of all discussions regarding the potential acquisition of The Jones Group, Inc.’s jeanswear division.
Jones Group confirmed that it was in talks to sell its jeanswear business to Israel-based Delta Galil in October. The companies were discussing a sale in the range of $350 million to $400 million, but both parties could not reach mutually acceptable terms.
Jones Group will maintain ownership of the division. Delta Galil stated it will continue to actively pursue other growth opportunities.
New York-based Jones Group, Inc. designs and markets apparel, activewear, footwear and accessories under recognized brand names including Jones New York, Anne Klein and Nine West. Delta Galil Industries, Ltd. develops, manufactures and markets seamless intimate apparel, shapewear, sleepwear, menswear, socks and basics for branded and private label apparel companies.
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