Delta Galil Industries Ltd. has completed its acquisition of Eminence SAS and its subsidiaries.
The deal includes Eminence and Athena, French underwear brands for men, women and children, and the Italian brand Liabel. The addition expands Delta’s branded business and European market share.
Delta said it expects the transaction to be accretive to its 2019 earnings per share by 40 cents to 45 cents. With Eminence, 29 percent of Delta Galil’s sales come from men’s products, up from 24 percent previously. Sales in Europe now account for 34 percent of the firm’s total, up from 29 percent.
Eminence posted annual net sales of 99 million euros last year. Eighty-seven percent of its offering is for men, while 8 percent of its products cater to women with the balance targeting kids and babies. Its largest market is France, at 79 percent, with the balance in Western Europe. Most of the sales in Western Europe are in Italy, at 17 percent, and in Belgium, at 3 percent, under the brands Eminence in the upper-tier market and Athena in the mass market, as well as Liabel.
Delta Galil manufactures branded and private label apparel for men, women and children. The apparel lines include intimates for women, underwear for men, babywear, activewear, sleepwear and ath-leisure offerings. It also sells denim apparel under the 7 For All Mankind brand, and women’s apparel under the brands Splendid and Ella Moss.