DALLAS, Dec. 2, 2013 /CNW/ - Haggar Clothing Co. announced today that it
has acquired Tribal Sportswear from Kilmer Capital Fund L.P. for an
undisclosed amount. Based in Montreal, Tribal was founded in 1976 as
a women's trouser company and over the last several decades has grown
into an industry leading women's sportswear business offering seasonal
collections of casual and career wear to its account base of over 2,000
specialty stores across North America.
"Tribal is one of the most well respected women's wear brands in the
boutique channel of distribution throughout North America" said Michael
Stitt, CEO of Haggar Clothing Co., based in Dallas, Texas. "The
company and brand are recognized for their high standards of quality,
trend-right collections, and customer-centric corporate philosophy."
"Haggar's culture and core values towards their employees, customers and
suppliers are shared by those at Tribal and were an important part of
our discussions" said William Fitz Blackburn, acting CEO of Tribal and
Partner at Kilmer Capital Partners. "The union of Haggar and Tribal
represents a tremendous opportunity in women's sportswear and an
exciting new chapter for Tribal and its dedicated employees."
Tribal will continue to be based in Montreal and will be led by Steven
Richman, who will serve as President of the new division. "I am very
excited that Haggar shares the same recognition of the unique position
in the independent boutique channel that Tribal has earned," said
Richman. "Tribal's strong position in the boutique channel is in many
ways thanks to its dedicated and creative workforce. With Haggar's
vast resources, Tribal will be able to leverage and continue building
and growing the brand." Steven Richman will work alongside Brian Main,
President of Haggar Canada Co.
"I am very impressed with the Tribal associates I have met and worked
with during our due diligence process, and I am excited to work with
Steve to continue to build our women's business," stated Brian
Main. "The entire team is passionate, committed, and skilled, and we
are confident that the brand is poised for continued growth."
The acquisition of Tribal Sportswear is expected to complement Haggar's
current women's business, which enjoys significant distribution in
Canada at both major department stores, Sears and The Bay, and is
expected to grow in North America. "Tribal's highly valued boutique
customers, the majority of which are in the United States, provide
diversification in terms of our channels of distribution," said
Stitt. "The talented design and sourcing teams at Tribal's
headquarters provide the foundation for meaningful growth of our
women's wear business throughout North America."
About Haggar Clothing Co.
Since its beginnings in a one-room office in Dallas, Texas in 1926,
Haggar Clothing Co. has grown from a manufacturer of men's fine dress
pants and slacks into one of the most recognized and original apparel
brands in the market. Haggar coined the term "slacks" in 1938 and
continued to lead menswear innovation with the introduction of
pre-cuffed pants, expandable waist pants, wrinkle-free cotton casual
pants, and suit separates. In addition to its Haggar® brand, the
company has developed and launched the highly successful and
eco-friendly LK Life Khaki™ brand. Haggar is the official clothing
partner of the Hockey Hall of Fame and the Pro Football Hall of Fame.
Haggar Clothing Co. today commands the #1 market position in men's
dress pants in the United States, as well as the #2 share in men's
casual pants, and has been a leader in men's apparel for over 85 years.
For more information or to view product offerings from Haggar, please
visit the Haggar website.
Image with caption: "Tribal is one of the most well respected women's wear brands in the boutique channel of distribution throughout North America. The company and brand are recognized for their high standards of quality, trend-right collections, and customer-centric corporate philosophy. (CNW Group/Haggar Canada Co.)". Image available at: http://photos.newswire.ca/images/download/20131202_C6377_PHOTO_EN_34143.jpg
SOURCE: Haggar Canada Co.
For further information:
CONTACT HAGGAR CLOTHING CO:
Rich Honiball, SVP of Marketing, Licensing and Ecommerce
Haggar Clothing Co.
214-956-4460, Fax 214-956-4489
CONTACT HAGGAR CANADA CO:
Diana Rose, VP of Marketing
Haggar Canada Co.
416-652-3777 Ext. 2315