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Investcorp acquires totes Isotoner Corporation [Daily Tribune (Bahrain)](Daily Tribune (Bahrain) Via Acquire Media NewsEdge) Investcorp, a leading provider and manager of alternative investment products has entered into a definitive agreement to acquire totes Isotoner Corporation, the world's leading designer, marketer and distributor of functional accessories in the rain, cold weather and footwear categories. The Company will be purchased from MidOcean Partners and Bruckmann Rosser Sherrill & Co in a joint partnership with Freeman Spogli & Co., a private equity firm that invests exclusively in middle-market consumer and distribution sectors. The terms of the transaction is awaited. The totes and Isotoner brands are among the most recognisable and trusted rain and cold weather accessory brands in the U.S. and Europe. It was established in 1923 headquartered at Cincinnati, Ohio. Within the multi-billion dollar functional accessories category, totes Isotoner enjoys a market leadership position in all of its served markets. The Company has a broad and diverse distribution footprint, enabling it to partner with marquee retail customers to sell its products across a variety of channels. The Company has a significant international presence, selling its products throughout Europe with an emerging business in Asia. "Mohammed Al-Shroogi, President for Gulf Business at Investcorp said "We look forward to working closely with the totes's management team as they seek to grow through further international expansion and the introduction of new, high-quality products." Doug Gernert, President and CEO of totes Isotoner, said "Investcorp and Freeman Spogli will serve as highly complementary partners for our Company." Bingham McCutchen and Gibson, Dunn & Crutcher acted as the legal advisors to Investcorp and Freeman Spogli & Co. and Kirkland & Ellis to MidOcean Partners and Bruckmann Rosser Sherrill & Co. copyright (c) 2014 Daily Tribune. All Rights Reserved Provided by Syndigate.info, an Albawaba.com company |