The To The Game LLC subsidiary of Delta Apparel Inc. has reached a preliminary agreement to sell its The Game branded collegiate apparel and headwear business to David Peyser Sportswear Inc., the owner of MV Sport.
Financial details of the proposed transaction weren’t disclosed. Delta said the unit generates about $25 million a year in revenue and that the transaction is expected to lead to an “appreciable gain” in net book value.
The Game sells college branded hats and apparel through college bookstores and team dealers.
“Our Salt Life and corporate business currently operating within To The Game LLC are not being impacted by the sale of the collegiate part of the business,” said Robert Humphreys, chairman and chief executive officer of Delta. “The sale of The Game will allow us to focus on other areas of our business that are more strategic to our long-term goals.”
The transaction is expected to close within several weeks.
In addition to To The Game, Delta’s operating subsidiaries are M.J. Soffe, Junkfood Clothing Co. and Art Gun LLC.