JACLYN ACQUIRES I. APPEL
NEW YORK — Jaclyn Inc. has completed its acquisition of the trademark and certain other assets of I. Appel Corp., based here.
This confirms a story in WWD Monday.
Under terms of the deal, the company acquired substantially all of the finished goods of Appel — its customer orders and its trademarks and trade names including, among others, Appel and Smart Time, according to a Jaclyn statement.
Additionally, the company also acquired certain office equipment, furnishing and fixtures located at Appel’s New York City showroom and other equipment in its Tennessee facility.
Executives at Jaclyn declined to comment further on the specifics of the deal. The statement said I. Appel will be operated as part of Jaclyn’s intimate apparel division.
Century Corporate Advisors, the investment banking arm of Century Business Credit Corp. orchestrated the purchase.
West New York, N.J.-based Jaclyn markets apparel, handbags, sportsbags and related accessories, while Appel’s merchandising selection consists of robes, dusters and loungewear.