Haggar issues acquisition agreement
Haggar Corp., a marketer of men's casual and dress apparel and women's sportswear, has announced the execution of a definitive agreement whereby Infinity Associates LLC, Perseus, L.L.C. (through an affiliate) and Symphony Holdings Limited would acquire Haggar Corp. in a transaction valued at approximately $212 million.
Completion of the transaction is contingent on, among other things, regulatory review, approval by the stockholders of Haggar, and funding of debt to complete the acquisition. The transaction is expected to close by the end of 2005.
J.M. Haggar, III, chairman of the Board and CEO of Haggar Corp., stated, "This transaction provides outstanding shareholder value and represents an endorsement of the excellent performance of our entire team. With the new ownership team and our ability to utilise their respective capabilities, we will be able to accelerate our strategy of world-class sourcing and will strengthen the marketing power of our owned and licensed brands as well as our service to the private label market."
With its headquarters in
