Iconix Brand Group Inc, which owns apparel brands including London Fog
and Joe Boxer, announced plans to buy Pillowtex LLC for $231 million to
diversify outside of the world of fashion. Pillowtex marks Iconix's
largest acquisition to date, topping the $204 million it paid earlier
this year for Rocawear.
Pillowtex's brands include Cannon, Royal Velvet, Fieldcrest and
Charisma, among others. Iconix, which owns more than 10 brands and
holds more than 145 licenses, acquired six brands in the last year.
Brands include Candie's, Bongo, Badgley Mischka, Joe Boxer, Rampage,
Mudd, London Fog, Mossimo, Ocean Pacific and Danskin.
“This is a transformative acquisition for Iconix as our brand
portfolio now transcends the fashion industry with the addition of four
iconic home brands,” Iconix Chief Executive Neil Cole said in a
statement.
