Israeli manufacturer and marketer of branded and private label clothing Delta Galil Industries Ltd. (OTCQX: DELTY; TASE: DELT) today announced that it has signed an agreement to acquire intimates online retailer Bare Necessities. Delta said that the deal is expected to close in the next few weeks and be accretive to earnings next year but no financial details were disclosed.
Delta Galil CEO Isaac Dabah said, "This transaction reflects our strategic growth objective to diversify our distribution channels. As the digital space currently represents the fastest growing segment in our industry, we are very pleased to acquire such an authority in online intimates. Bare Necessities can significantly enhance Delta Galil’s presence in the digital world, as we continue to pursue growth online."
US company Bare Necessities today offers more than 160 brands and 6,400 styles in intimates, women’s swimwear, shapewear, sexy lingerie, sleepwear, and hosiery, among others. Renowned for its expertise in fit and its wide range in sizes, Bare Necessities’ product offering spans Wacoal, Chantelle, SPANX, Calvin Klein and Miraclesuit, with exclusive collections including Birdsong and Camio Mio. Following the deal, the site will offer Delta Galil’s own brands as well.
Published by Globes, Israel business news - en.globes.co.il - on August 25, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020