Perry Ellis International Inc. has reached an agreement with ACI Licensing to sell its C&C California trademarks.
The transaction is for an undisclosed amount, and the C&C brand will be owned by ACH C&C LLC, a newly created venture by members of ACI.
Oscar Feldenkreis, president and chief operating officer of Perry Ellis, said, “The sale of the iconic C&C California brand marks another step in our effort to ensure that assets within the Perry Ellis International portfolio are core to our strategy and are able to generate enhanced shareholder value.”
Feldenkreis added that the firm is entering fiscal 2016 in a “position of strength and will continue to concentrate on our global businesses and brands, led by Perry Ellis, Original Penguin, Rafaella, Laundry and Golf lifestyle apparel.”
Andrew Cohan, managing partner of ACH, said that his company looks forward to “growing” the T-shirt brand’s distribution globally.