[December 31, 2007] In Mocean Acquires Warnacos Swimwear Brands For $26 Million Tweet (InvesTrend Via Thomson Dialog NewsEdge) December 31, 2007 (FinancialWire) Apparel maker The Warnaco Group Inc. (NASDAQ: WRNC) has completed the sale of its Anne Cole, Cole of California and Catalina swimwear businesses to In Mocean Group LLC for a total of $26 million. In Mocean will pay $21 million in cash and $5 million relating to raw material and work-in-progress for the current swim season. The $5 million will be collected by drawing on letters of credit as finished goods are shipped. Warnaco makes Warner's and Olga intimate apparel, Chaps sportswear and denim, Calvin Klein men's and women's underwear and apparel. In November, Warnaco said its third-quarter earnings fell 70 percent on lower sales and restructuring costs. In Mocean, which is privately held, said the swimwear brands complement its existing swimwear business. Warnaco shares rose 42 cents in after-hours trading to $34.92 after losing 28 cents per share in the regular session. For up-to-the-minute news, features and links click on http://www.FinancialWire.net FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation from any company for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp For a free annual report on a company mentioned in the news, please click on http://investrend.ar.wilink.com/?level=279 To become an investor monitor of independent research for a company in which you are invested, go to the not-for-profit Shareholders Research Alliance, Inc. website by clicking on http://www.shareholdersresearch.com/ The FinancialWire NewsFeed is now available in multiple formats to your site or desktop, free. Click on: http://www.investrend.com/XmlFeeds?level=268 (Distributed for Investrend Communications, Inc. via M2 Communications Ltd (www.m2.com)) Copyright 2007 M2 Communications Ltd. [ Back To TMCnet.com's Homepage ]