Manhattan Beachwear Inc., based in Cypress, Calif., has acquired Apparel Ventures Inc., a Los Angeles-based manufacturer of junior, contemporary and women’s swimwear. Apparel Venture’s brands include La Blanca and 2 Bamboo, as well as licensed lines such as Ralph Lauren, Trina Turk, ABS, Puma and Rampage. The deal closed Tuesday.
The combined swimwear companies do about $200 million in wholesale volume, according to a spokeswoman. The purchase price was not disclosed.
In January, Linsalata Capital Partners, a Cleveland-based private equity firm, acquired a majority stake in Manhattan Beachwear LLC. Existing ownership maintained a 20 percent stake in the company. Linsalata was expected to beef up Manhattan Beachwear with other acquisitions.
Related Articles
Allan Colvin, chief executive officer of Manhattan Beachwear, will run the combined company, which will operate under the Manhattan Beachwear name. “This acquisition brings together two established and respected names in the swimwear industry. Merging the companies into one joint entity will allow us to maximize our strengths and offer our customer base an unmatched brand and product mix,” said Colvin. Bill Singletary, chief operating officer and chief financial officer of Apparel Ventures, will step down. Apparel Ventures, which was privately held, was founded in 1976 by the late Marvin Goodman and became a leader in the swimwear sector. Goodman died last November.
You May Also Like
Manhattan Beachwear will continue to have offices and shipping facilities at both companies’ headquarters, in Cypress and Los Angeles, although the firm will operate under one management team.Brenda West has been named president, and Ron Russell and Jeff Pofsky were appointed corporate vice presidents of the combined entity.
Manhattan Beachwear manufactures and markets a mix of junior, contemporary and misses’ swimwear brands including the licensed Kenneth Cole New York, Kenneth Cole Reaction, Nanette Lepore and Hobie lines, as well as several proprietary brands.