Israeli company Delta Galil Industries has bought three premium brands from VF Corporation in a deal worth $120m (£90.2m), the parties have announced.
7 For All Mankind, Splendid and Ella Moss will be added to Delta Galil’s portfolio in a move the business hopes will add $300m (£225m) to its top-line annual sales.
The acquired brands have a strong US focus, with 75% of the sales across the three brands made in that market. According to Delta Galil’s own figures, Europe is the second-biggest market with 21% and the rest are in Asia.
Delta Galil CEO Isaac Dabah said the transaction “reflects our strategic efforts to grow Delta Galil’s branded business and expand our global footprint”.