(Filed Under Financial and General Interest News). Komar announced that it has acquired Biflex Intimates Group, the private label supplier of intimates to stores such as Wal-mart, JC Penney, Sears and Dillard’s. It said the deal was expected to close next week. No purchase price was announced.
Biflex had been a division of Kellwood until 2006. That year executives at Biflex, including president Debby Long Gedney, as well as private equity partner, Industrial Renaissance, completed the purchase of Biflex from the Kellwood with plans to grow the company. Most recently the firm had been operated by senior management and a group of investors.
When BODY interviewed Long in 2006 she reported that Biflex annual sales “are just below the $100 million” level, but the company is believed to have shrunk by 2012.
Long told BODY that she is uncertain of her long range plans but expects to stay with Biflex at least for a “transition period.”
Komar, an intimates giant, is home to over 100 brands and boasts “a network of factories in fourteen different countries and distribution centers in the US and Europe.”
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