NEW YORK — Active Brands International, through a partnership with Eureka Growth Capital, has acquired Marc Wear, a major garment-dyed manufacturer of products sold to better department stores.
Marc Wear, a $125 million wholesale operation, sells merchandise under the trademarked name Hot Cotton by Marc Ware to Macy's, Nordstrom, Gottschalks, Dillard's, Belk and Lord & Taylor. It also produces a line called Marc Wear. The sale price wasn't disclosed.
Eureka Growth Capital is a Philadelphia private equity firm headed by managing director Christopher G. Hanssens.
Active Brand's chief executive officer, Paul Palmeri, and chief operating officer, Nick DeMarco, have assumed those titles at Marc Wear.
"This fits into our strategy to be the dominant player in the misses' active casual area," DeMarco said.
Marc Wear will continue to be based in Los Angeles and sales will be handled from New York, DeMarco said. Hot Cotton by Marc Ware's management will remain the same and the company's namesake, Marc Ware, will maintain his role of president. Teresa Pineda-DeRogatis will continue as senior vice president.
DeMarco said no job cuts were planned, adding, "We plan to take the core business and keep it the way it is, while adding growth."
In recent months, Palmeri, DeMarco and Eureka Growth Capital have been on the acquisition trail. In February 2006, they acquired Martin Stuart Ltd., the maker of NYL New York Laundry, NYL Sport and Sideways, which are sold to Kohl's, Sears, Mervyns, Macy's and Gottschalks. At that time, DeMarco and Palmeri operated their firm under the name NYL Brands Holdings Inc. This year, the company also gained the rights to be the exclusive licensee for Pampolina, a German designer children's wear line, and all sub-brands in the U.S., Mexico and Canada. In May, NYL Brands was changed to Active Brands International.
With its latest acquisition, Active Brands is better positioned as a multilevel distributor of active casual apparel, DeMarco said. In 2004, DeMarco and Palmeri sold their interest in Keystone Holdings LLC, an acquisitions company.
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