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Article: LIZ CLAIBORNE ACQUIRES ELLEN TRACY FOR $170M.(News)
- Article from:
- The Cincinnati Post (Cincinnati, OH)
- Article date:
- October 1, 2002
CopyrightCOPYRIGHT 2002 The Cincinnati Post. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. 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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Byline: Associated Press
NEW YORK -- In a move that will expand its presence in the higher-end clothing market, apparel giant Liz Claiborne Inc. has purchased privately held Ellen Tracy Inc. and related companies for $170 million.
Under the deal announced Monday, Claiborne will also assume $10 million in debt.
Ellen Tracy, which generated sales of $171 million in 2001, sells clothing under the Ellen Tracy, Linda Allard Ellen Tracy and Company Ellen Tracy brand names, to specialty stores and department stores. Its fashions are sold at what the trade refers to as "bridge" prices - below the designer category.
Claiborne expects the ...