Premium denim maker Blue Holdings Inc has signed a definitive merger agreement to buy clothing retailer Up Against the Wall for $16 million in cash and $16 million in stock.
The Boards of Directors of both companies has approved the transaction and the merger is anticipated to close by September 2006.
Presently, there are 24 Up Against the Wall stores in the United States selling brands like True Religion, Seven for all Mankind and Antik Denim. It is planning to add three new stores in the second half of 2006.
Blue Holdings Inc, directly and through its wholly owned subsidiaries, Antik Denim, LLC and Taverniti So Jeans, LLC, designs, develops, manufactures, markets, distributes and sells high-end fashion jeans, apparel, and accessories with a western flair under the 'Antik Denim,' 'Yanuk,' 'Taverniti So Jeans,' and 'U' brands, both in the United States and internationally.
marketing@alchempro.com
