Montreal-based Christina America has purchased the assets of Baltex Swimwear. The deal maintains the Baltex name and secures a significant number of Baltex jobs. The transaction price was not disclosed.
“This arrangement presents numerous opportunities in terms of product development, customer relations and the ability to strengthen Christinas already strong portfolio of brands,” stated Kathy Van Ness, Executive Vice President and Chief Marketing Officer of Christina. “Combining these two great names and their well-known brands results in a number of synergies and creates a strong entity which will permit us to expand our global foot print and further reinforce our distribution channels. The purchase also provides an important platform from which Christina can seek further acquisition and expansion opportunities.”
Ms. Van Ness added, “The Baltex group joins both the Christina America and Gottex companies. We are taking a proactive, positive approach to build upon our combined strengths as well as continue to provide outstanding service to our customers and maintain the Baltex Canadian identity in the market.”
The company said that a significant amount of positions at Baltex would be maintained. The acquisition vaults Christina America to one of North Americas largest swimwear manufacturers.