| NORTHERN CAP
WAS ACQUIRED BY TOTES-ISOTONER
 Cold-weather
accessory company TOTES-ISOTONER acquired the
Minneapolis-based brand of private label headwear
and gloves. Toes-Isotoner is owned by MidOcean
Partners, a private equity firm in New York and
London.
The merger combines a branded casual footwear,
rainwear, and cold-weather accessories with a
branded and private label headwear and glove company
for men, women, and children.
Northern Cap & Glove was founded in 1950
and has licenses for headwear, gloves and scarves
under the Dockers, GoreTex and Karen Neuburger
names.
Doug Gernert, Chairman and CEO of totes-Isotoner
said, "The gain in scale from the addition
of Northern Cap & Glove will allow us to offer
our customer’s unmatched value and, as the
retail industry continues to consolidate, we will
be able to provide an even broader suite of branded
and private label merchandise across markets."
David Basto of MidOcean agrees. “The acquisition
of Northern Cap & Glove is another step in
the growth of totes-Isotoner. We will continue
to pursue targeted acquisitions that will provide
complementary product lines to broaden the totes-Isotoner
product portfolio."
About totes-Isotoner Corporation
Founded in 1923, totes-Isotoner makes gloves,
hats, scarves, umbrellas, slippers, and flip-flops.
The company also operates over 100 owned outlet
mall-based stores.
About MidOcean Partners
MidOcean Partners (http://www.midoceanpartners.com)
is a private equity firm that invests in high
quality companies with stable market positions
and multiple opportunities for growth. Targeted
sectors include consumer and leisure, media and
communications, business and financial services.
|