Delta Galil Industries, Ltd., is buying The Bogart Group.
Yes, it’s official now! The Tel-Aviv-based Delta Galil announced yesterday that it has signed the deal to take over the Hong Kong-based intimate apparel firm, The Bogart Group.
The agreement also distinctly states that Delta Galil, which owns Seven For All Mankind, will also be acquiring Bogart’s subsidiaries Brunet (lace maker) and B&B (padding maker).
Stating happiness over the signed deal, Isaac Dabah, Chief Executive Officer, Delta Galil, said that the firm is extremely delighted to have The Bogart Group as an integral part of their strong portfolio of intimate apparels.
He further added that while Delta Galil can utilise Bogart’s strong market standing to help the latter grow further, it can also enable Delta’s business units to develop further.
The company expects that the acquisition of Bogart will start bringing profits by the second half of the year.
The Bogart Group, which specialises in intimates and swimwear, reported a consolidated sales of US $ 230 million last year.