NEW ERA CAP ACQUIRES APPAREL MAKER 5TH & OCEAN

New Era Cap Co. has acquired 5(th) & Ocean, a privately held apparel manufacturer in Miami, Florida.

The acquisition will help New Era rapidly expand its line of sports and fashion apparel by tapping into 5(th) & Ocean's expertise and existing market relationships.

Currently, 5(th) & Ocean manufactures men's, women's, and kids apparel for major U.S. sports leagues including Major League Baseball as well as Victoria's Secret/PINK and Dallas Cowboys Merchandising.

"To ensure the long-term growth of New Era in this changing economic landscape, we need to look for strategic ways to diversify our business," said Christopher H. Koch, CEO of New Era Cap. "The acquisition of 5(th) & Ocean continues to move us forward with our strategy to become a well-rounded lifestyle brand. This was an opportunity we simply could not pass up."

New Era started in the apparel business in 2007 and recently launched a collection of apparel and headwear for Black Colleges and Universities called New Era presents Tradition.

"We are very excited to become part of a company with an 89-year history of quality, tradition and authenticity," said Alex Leiter, CEO of 5(th) & Ocean. "The resources and knowledge that New Era brings assures that 5(th) & Ocean will continue to be the fashion leader in licensed apparel and will continue to provide superior speed-to-market."

New Era and 5(th) & Ocean will have a large presence at the MAGIC trade show at the end of August, offering a collection of tees, polos and cut & sew pieces for team concessioners and urban fashion doors. Product is expected to reach the market by the end of 2009 with a broader launch in Spring 2010.

About 5(th) & Ocean
Founded in 1995, 5(th) & Ocean Clothing is a privately owned, minority certified apparel manufacturer and wholesaler specializing in fashion apparel for the licensed team sports and private label markets.

5th's customer base is department stores, sporting goods chains, mass merchants, and sports specialty stores. A flexible manufacturing model allows the company to deliver product from concept to the retailer's door with speed, a critical component in the rapidly changing fashion market. For more information: visit http://www.5thocean.com/