Hampshire Group is gaining a foothold in Central America through its purchase of Rio Garment, a Honduras-based apparel manufacturer.
On Tuesday, Hampshire said it has entered into a definitive agreement to acquire Rio for $23 million, payable in up to $6.8 million in cash and $10.5 million in Hampshire stock, after the repayment in cash at closing of liabilities totaling about $5.7 million. This acquisition confirms a report posted on WWD.com on Tuesday morning.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)