Delta Apparel To Acquire HPM Apparel

Activewear apparel manufacturer Delta Apparel Inc., Duluth, Ga., has agreed to acquire Wendell,
N.C.-based HPM Apparel Inc., doing business as The Cotton Exchange. The Cotton Exchange – which
sells decorated apparel to college bookstores, the U.S. military and other retailers under The
Cotton Exchange, TCX and Just For Us brands – will keep its headquarters and operations in Wendell,
and its 290 employees will retain their jobs after the acquisition. 

“We are excited about the acquisition of The Cotton Exchange as it continues our strategy of
growing the company’s business within the college bookstore market and further strengthens our
military and retail channels,” said Robert W. Humphreys, chairman and CEO, Delta Apparel. “In
addition, this business provides us additional U.S. screen print and embroidery capacity, further
enhancing our speed to market initiatives. Delta Apparel is eager to begin working with the
existing management team to continue to grow ‘The Cotton Exchange’ as well as the company’s other

July/August 2010