(Filed Under Financial and General Interest News). Delta Galil signed an agreement to acquire Hong Kong based The Bogart Group, a prominent producer of intimates and swimwear. The sale includes two of its subsidiaries, Brunet, a lace manufacturer, and B&B, a padding maker.
With consolidated sales of $230 million in 2018, Bogart is “a preferred strategic partner for some worldwide leading brands such as Victoria’s Secret, PVH, Jockey, Adore Me, Vanity Fair, Hanes, among others,” explained Delta Galil, noting it “expects the deal to show a profit in the second half of 2019 and to be accretive to earnings in 2020. The acquisition is expected to close in the beginning of Q3.”
“We’re very pleased to be adding The Bogart Group to our strong portfolio of intimate apparel, as expanding our footprint in the bra category has been a long term goal for Delta Galil,” said Isaac Dabah, Delta Galil’s CEO. “This is a unique strategic opportunity, where I see great potential for Delta to leverage Bogart’s strong market position to further build its company, while also helping Delta’s business units expand to the next phase of growth.”
Launched in 1993, Bogart lists on its website additional clients including Pink, Abercrombie & Fitch, Tommy Hilfiger, La Senza, Oysho, Bonds, Addition Elle, Pennington’s, Berlei and Lane Bryant.
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