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Kellwood, Sun Capital to buy Scotch & Soda
- Kelsey Volkmann
Kellwood President and Chief Executive Michael Kramer did not disclose the acquisition price but said Tuesday the deal is expected to close in August upon regulatory approval.
"Scotch & Soda is one of the coolest, most sought after brands today, and I couldn't be more excited to have them partner with the Kellwood team," Kramer said. "It has achieved tremendous success internationally and has enormous potential for growth in the U.S. market. With Kellwood's resources, we can't wait to see the brand get to the next level."
The Scotch & Soda founders and management team will remain in place, Kellwood said.
Scotch & Soda designs have become known for their "unique variety of colors and fabrics, intricate details and trendy, vintage vibe," Kellwood said. Originating in the 1980s as a menswear label, Scotch & Soda has expanded to include a women's collection called Maison Scotch, a boy's collection named Scotch Shrunk, a girl's collection called Scotch R'Belle and a denim collection called Amsterdams Blauw.
Scotch & Soda designs are sold in over 30 company-owned and franchised retail stores worldwide and in more than 7,000 partnership accounts.
Town and Country-based Kellwood, which had estimated revenue of $820 million last year, historically has focused on private-label lines for department stores and mid-price-range brands such as Sag Harbor. Now Kellwood is taking on a fresh look by adding high-profile, high-dollar labels to its brand offerings. Kellwood is reportedly in talks to buy the Catherine Malandrino label.
In January, Kellwood acquired the Rebecca Taylor label, which has estimated sales of $45 million. In August, Kellwood bought Adam, a New York-based contemporary sportswear collection created by designer Adam Lippes. In January 2010, Kellwood acquired ISIS, a women’s outdoor apparel company based in Burlington, Vt.
Kellwood's brands also include Vince, BLK DNM, Baby Phat, Phat Farm, Briggs NY and Jolt. Kellwood is an affiliated portfolio company of Sun Capital Partners Inc., a private investment firm.
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