Oxford Industries completes sale of Womenswear Group
06 Jun '06
1 min read
Clothing manufacturer Oxford Industries Inc has announced that it consummated on June 2, 2006 its previously announced sale to The Millwork Trading Co Ltd, d/b/a Li & Fung USA ('Millwork'), a member of The Li & Fung Group, of substantially all of the assets (other than accounts receivable originated by the company) of the company's Womenswear Group (the 'Womenswear Sale').
The purchase price paid by Millwork equals approximately $37.3 million, subject to any post-closing adjustments relating to the net asset value of the transferred assets as of the closing date of the transaction.
Millwork will also purchase the company's goods-in-transit relating to the company's Womenswear Group following the closing of the Womenswear Sale.
Oxford Industries Inc is a producer and marketer of branded and private label apparel for men, women and children. It provides retailers and consumers with a wide variety of apparel products and services to suit their individual needs.
Oxford's brands include Tommy Bahama, Indigo Palms, Island Soft, Ben Sherman, Arnold Brant, Ely & Walker and Oxford Golf.
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