Intradeco Apparel has acquired certain assets of Knothe Apparel Group,a manufacturer of men's sleepwear.Terms of the deal,which closed on Friday,were not disclosed.
Knothe,a family-run business based in New York,distributes its products under labels such as Izod,Chaps and State O Maine.
Intradeco,a family-run business based in Miami that is focused on fashion basics and thermal underwear,said Knothe will operate as a separate division of Intradeco.The existing Knothe senior management and merchandising teams will continue running the businesses.
Allan Ellinger,senior managing partner at MMG,which was financial adviser in the transaction,said,"This is a strategically strong merger for both companies.We were pleased to be able to bring these two industry leaders together in a deal that will strengthen the men's sleepwear business."
Terry Trofholz,executive vice president of sales for Intradeco,said the"synergies between the businesses will bring real benefits to our valued customers."
Ricky Bern,chief operating officer at Knothe,said his company will"be able to take advantage of Intradeco's vertical supply chain structure,world class operating systems and financial strength.
