DONNKENNY CLOSES BELDOCH PURCHASE

NEW YORK--Donnkenny Inc. said Tuesday it has completed its acquisition of Beldoch Industries Corp.
Beldoch, with annual sales of $65 million, manufactures and markets moderate- and better-priced women's knitwear under the Beldoch-Popper, Alberoy and Knitmakers labels and holds the license for Pierre Cardin women's wear manufactured in the U.S.
Donnkenny also is in the process of purchasing the sportswear division of Oak Hill Sportswear. The company is spending a total of $25 million in cash for the two operations as part of a plan to triple sales to $450 million by 1998. Donnkenny had sales of $159 million in 1994. It makes moderate-price sportswear; licensed Mickey & Co. women's, men's and girls' sportswear, and Flirts sleepwear and intimate apparel under the Warner Bros./Looney Tunes licenses.
Plans for the two acquisitions were first disclosed last month. Donnkenny did not break out separate terms for the two deals.
Separately, Donnkenny announced that its working capital line of credit from Chemical Bank has been increased to $85 million from $35 million.

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