Atlanta-based Oxford Industries Inc., an international manufacturer and wholesale marketer of apparel brands that include Tommy Hilfiger, Nautica and Dockers, signed an agreement last week to acquire London-based Ben Sherman Ltd. for approximately $146 million in cash, Oxford announced.
The acquistion is expected to increase Oxford’s revenue by $150 million for fiscal year 2005, according to the company’s statement.
Oxford Chairman and CEO J. Hicks Lanier said, “We believe there are significant opportunities for growth both overseas and here in the United States for the brand. Additionally, there are opportunities for us to leverage Ben Sherman’s considerable infrastructure in the United Kingdom to grow other portions of our consolidated business.”
Ben Sherman’s “irreverent” apparel for “youthful-thinking men and women” is distributed in Australia, Europe, North America and the Far East, according to the announcement.
Oxford, which has manufacturing and sourcing operations in 40 countries, was founded in Atlanta in 1942 by Oxford brothers Hicks, Sartain and Thomas.
For more information, contact J. Reese Lanier at Oxford Industries at 404-653-1446 or firstname.lastname@example.org.