US designer, manufacturer, marketer and retailer of the Gold Toe sock brand and related products Gold Toe Investment Corp. and sock manufacturer Moretz Inc., are to combine to create one of the largest global sock companies. The deal is backed by an investment from The Blackstone Group, a global private investment and advisory firm, which is acquiring Gold Toe and simultaneously facilitating a merger between the two companies. In addition to its online and outlet stores, the combined company will supply department stores and specialty sporting goods channels.

Together, Gold Toe and Moretz will pursue new growth opportunities by expanding product lines and distribution.

The senior management teams of Gold Toe and Moretz will remain with the combined company following the merger.

Terms of the transaction were not disclosed.