li--fung-buys-wear-me-apparel-for-up-to-402-million

Li & Fung buys Wear Me Apparel for up to $402 million

The deal could be followed by several more acquisitions as the Hong Kong-based sourcing company seeks to build its overseas presence.

Consumer goods sourcing company Li Fung is to acquire Wear Me Apparel, a US children's clothing company, the Hong Kong-listed company announced late on Monday. The consideration for the acquisition will be no more than $401.8 million.

Wear Me Apparel designs, markets and sells clothing for children -- primarily under the Kids Headquarters label -- and young men. It manages a large portfolio of national brands, proprietary brands, private labels and character licenses. Among the clothing brands that it manages are Calvin Klein, Timberland and Rocawear. It also makes clothes for Disney, Marvel and Nickelodeon. The finished products are sold in department stores and mass retailers such as Macy's and Wal-Mart. In 2008, the company...

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