Every day we learn new things about this place. For instance, Carlsbad-based Phoenix Footwear Group, Inc. (a company we’ve never heard of before) just sold their Royal Robbins division (which they bought in 2003 for $11.7 million) to Kellwood Company for $40 million in cash (subject to a working capital adjustment). Not a bad transaction.
Commenting on the transaction, Jim Riedman, Chairman of Phoenix Footwear Group, Inc., said, “Royal Robbins is an outstanding brand with strong revenues and a very loyal following, and we are very pleased with a three-fold return we expect to achieve on this asset in just over a three-year period.
Pheonix’s other brands include Tommy Bahama Footwear, Trotters, SoftWalk, Strol, H.S. Trask, and Altama footwear, and Chambers Belts.
Okay, so we’ve heard of Tommy Bahama before. And now we know the rest of the story.
[Link: Earthtimes.org]
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