Denim Apparel Group has signed a letter of intent to acquire Moonlight Graham Inc., a manufacturer of better men's and children's licensed sportswear with licenses including Major League Baseball, Anheuser – Busch, General Motors, Universal Studios, and Cadbury – Schweppes.
Denim Apparel CEO Eric Joffe says, “We are excited to begin execution of the rolling up process in the apparel Industry. Moonlight Graham is a high quality brand selling to the finest stores in America, and the type of company we envisioned to be part of the Denim Apparel Group.”
Bart Silverman, President of Moonlight Graham Inc., says, “After careful consideration of other acquisition options Moonlight Graham is excited to be the first company to join the Denim Apparel Group. With their support and our continued diligence we will expand our product line and grow our sales at an accelerated pace with our new partners the Denim Apparel Group. We expect to more than double our sales in the year 2006.”
