|
In Mocean Acquires Warnacos Swimwear Brands For $26 Million
(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 ]
|
INDUSTRIES
Activate Email 
