The deal, which closed on 24 March, sees Centric Brands take control of the hosiery division of Daytona Apparel Group, a portfolio of retail brands owned by Windsong Brands.
The acquisition will be merged into Centric’s growing accessories division led by Jarrod Kahn, group president of accessories.
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The company says the addition of Daytona’s hosiery business expands its retailer relationships and its private label and licensed businesses, noting it also adds diversity and scale to its portfolio with new untapped brands, strong recurring year-round replenishment businesses, and an expanded diversified sourcing model.
As part of the transaction, Centric will assume new license agreements including Stanley, Free Country, Real Tree, and Umbro. In addition, a number of associates from the hosiery team at Daytona will join Centric and report to Abe Dweck, executive vice president of accessories.
“The strategic growth of Centric is fuelled by our expertise in product, operations, and relationships. Acquisitions that assist in accelerating growth are very attractive to us. Our scale and competitive edge in the accessories marketplace benefits from this transaction,” says Jason Rabin, CEO of Centric Brands.
Centric Brands’ portfolio includes licenses for more than 100 brands, including Calvin Klein, Tommy Hilfiger, Nautica, Spyder, and Under Armour. The company also owns and operates Zac Posen, Hudson, Robert Graham, Avirex, Fiorelli, and Taste Beauty and operates a joint venture brand, Favorite Daughter, with Sara and Erin Foster.
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By GlobalDataIn November of last year, it acquired Joe’s Jeans.
