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Article: Plaid Holdings completes takeover of Crystal unit; it includes Palm Beach, Calvin Clothing. (Crystal Brands, Inc.) (Brief Article)
- Article from:
- Daily News Record
- Article date:
- October 21, 1992
- Author:
CopyrightCOPYRIGHT 1992 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It includes Palm Beach, Calvin Clothing.
NEW YORK -- The men's tailored clothing division of Crystal Brands, Inc., has been acquired by Plaid Holdings Corp. for an undisclosed sum, according to William B. Anneken, president/chief executive officer of Plaid Holdings, which is also the parent of J. Schoeneman, Inc.
The proposed buyout for about $55 million was disclosed at the Crystal Brands' annual meeting (as reported in DNR, April 22, Page 1). Plaid, a holding company based in the Netherlands, was set up in August 1991 to purchase Schoeneman, another clothing company.
Sales volume for the Crystal clothing group is $170 million and combined ...