LOS ANGELES —June 27, 2018 — Differential Brands Group Inc. — a portfolio of global consumer brands comprised of Hudson, Robert Graham and SWIMS — today announced that it has entered into a definitive purchase agreement with Global Brands Group Holding Ltd., a Hong Kong listed company, to acquire a significant part of GBG’s North American licensing business, comprised of licensed brands such as Disney, Star Wars, Calvin Klein, Under Armour, Tommy Hilfiger, BCBG, bebe, Joe’s, Buffalo David Bitton, Frye, Michael Kors, Cole Haan and Kenneth Cole, for a purchase price of $1.38 billion, subject to adjustment. It is anticipated that upon closing, DFBG will have in excess of $2.3 billion in pro forma annual revenue comprised of branded men’s, women’s, and kid’s apparel, along with accessories that will be distributed to a diversified base of consumers across all retail and digital channels. The acquisition is expected to close in the third quarter of 2018.

William Sweedler, chairman of the Board of Directors of Differential Brands Group and managing partner of Tengram Capital Partners LP, which played a pivotal role in bringing the parties together and getting the Transaction to signing, stated, “On behalf of the Board, I am thrilled that we were able to structure a transaction with the Fung family to acquire one of the leading branded consumer soft goods companies in North America with a world class management team led by Jason Rabin.” Sweedler continued, “Jason and his team plan to invest significant capital into this Transaction, which will transform Differential into a large scale North American branded platform.” Jason Rabin, current president of GBG North America stated: “We are thrilled to join Differential Brands Group and lead our combined platform by leveraging our expansive infrastructure, distribution and sourcing networks to drive growth, and we look forward to working with the Differential management team and Tengram to help support the company’s growth as it capitalizes on promising market opportunities. We are proud of what we have accomplished since joining Li & Fung in 2009, judiciously expanding the GBG platform and driving profitability, and thank them for their long-standing support and partnership.” Sweedler added: “Mr. Rabin has a proven track record of successfully growing numerous world class brands since inception. We are confident this transaction will create tremendous value for our stockholders, as well as provide enhanced opportunities in North America for our brands and business partners.”

The purchase price for the transaction will be paid in cash. Fully committed debt financing for the transaction is being provided by Ares Capital Management LLC, HPS Investment Partners, LLC and GSO Capital Partners LP. Relatedly, certain members of GBG’s existing management team, co-investors and lenders will be making an equity investment in the common stock of DFBG. Upon the closing of the transaction, Tengram Capital Partners, LP will convert all of its Series A and Series A-1 Convertible Preferred Stock into common stock of DFBG.

The closing of the transaction is subject to satisfaction or waiver of customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, the approval of the GBG’s stockholders under applicable Hong Kong listing guidelines and the approval of DFBG’s stockholders in connection with the Equity Issuance pursuant to NASDAQ listing requirements and regulatory approvals. As part of the Transaction, certain stockholders of the company, namely Tengram Capital Partners LP and its affiliates, have agreed to vote in favor of such Equity Issuance, and certain stockholders of GBG, namely, Fung Holdings (1937) Ltd., have agreed to vote in favor of the transaction.

Dechert LLP acted as lead counsel to DFBG and Richards, Layton and Finger acted as Delaware counsel to DFBG. Freshfields Bruckhaus Deringer LLP acted as lead counsel to GBG and Reed Smith LLP also advised GBG on the Transaction. Goldman Sachs (Asia) L.L.C. acted as financial advisor to GBG on the Transaction.

Posted June 28, 2018

Source: Differential Brands Group Inc.

NASHVILLE, Tenn. — June 27, 2018 — Authentically American™, a veteran-owned start up that offers premium-branded merchandise exclusively made in the USA, today announced that TV broadcaster and NASCAR Hall of Famer Darrell Waltrip has become an investor in the company.

“We are honored that Darrell Waltrip, who embodies Authentically American’s spirit and values, has joined our team of investors,” said Dean Wegner, a West Point graduate, Army veteran and businessman who founded the company in July 2017 with the intent of helping create American jobs.

“After hearing Dean’s passion for supporting U.S. workers by selling top quality merchandise that is made in America — and nowhere else — I was hooked. The product and story are so compelling that I decided to invest in Authentically American,” said Waltrip, a three-time NASCAR Cup Series champion.

Wegner noted that in its first year of operation, Authentically American has served more than 100 customers ranging from Fortune 500 companies and non-profits to small but patriotic businesses. The common thread with Authentically American’s customers is their support for Made in USA merchandise and American manufacturing.

“We could not be more pleased with what you brought to our organization, and we are excited to expand our designs in the future to maintain a cutting edge of fashion for our company,” said Roddy Thompson, director of sales for ITW/Hobart Welding North America. “Your quality is truly amazing and the fact that it is made in America fits our organization perfectly,” he added.

While organizationally branded merchandise for businesses, political campaigns, schools, nonprofits, etc., comprises the largest part of Authentically American’s sales, consumers also can make individual purchases of American-made apparel — ranging from tees to dress shirts — online.

As part of its expanding product line, the company also has ultra-soft, high-performance medical scrubs that are moisture wicking, antimicrobial and wrinkle resistant.

Each item displays Authentically American’s vintage USA flag logo, which is available in a variety of colors.

Wegner said he and his team aim to build an iconic American brand that is truly American made and sets the standard for Made in USA merchandise. Every Authentically American product is guaranteed, and the company donates 10% of its revenue to veteran-focused charities.

Posted June 28, 2018

Source: Authentically American™

BOSTON —June 28, 2018 — Audax Private Equity today announced that it has partnered with management to acquire Revolution Dancewear — global supplier of dance recital costumes, competition costumes, footwear, and dancewear. Terms of the transaction were not disclosed.

Geoffrey S. Rehnert, co-CEO, Audax Group, said: “Revolution is a recognized leader in the dance costume and dancewear market. We look forward to supporting CEO Joe Sclafani and the entire Revolution team to continue growing the business organically and through acquisitions.”

Revolution Dancewear, headquartered in Niles, Ill., is a globally recognized, costume and apparel platform that is known for its quality designs, value proposition, and recognized customer service to dance studios, dance schools, public programs, and dancers worldwide. Revolution offers one of the broadest suites of products, including recital costumes, competition costumes, footwear, leotards, and tights under its Revolution, 10th House, and Plume brands.

Joe Sclafani, CEO of Revolution Dancewear, said, “We’re excited to partner with Audax as we continue to build the Revolution platform both organically and through acquisitions. Audax’ resources will help us accelerate our growth as we expand into new product lines and geographies and invest in technology tools to support our dance studio partners.”

Robert W. Baird acted as exclusive financial advisor and Cohen & Grigsby, PC served as legal counsel to Revolution Dancewear and Incline Equity. Kirkland & Ellis LLP served as counsel to Audax.

Posted June 28, 2018

Source: Audax Group

NEW YORK CITY  —June 28, 2018 — EXENTA Inc., an innovator in next-generation information technology solutions for the apparel and other soft goods industries, is unveiling a groundbreaking new Shopfloor 3PM™ (Third-Party Manufacturing) cloud solution that enables retailers, brands, sourcing and production executives to achieve real-time visibility into order status, work-in-process (WIP), and other important manufacturing activities from anywhere in the world. Using a standard web browser, stakeholders can get up to the minute information on production orders, WIP levels, product quality, and more from third-party providers, contractors, or owned and operated factories.

According to Exenta President and CEO Roberto Mangual: “After transforming factories around the globe with real-time shop floor control solutions, we recognized the opportunity to provide the transparency and control needed by remote production package buyers, sourcing and supply chain managers, and others that rely on status updates and on-time deliveries from factories around the globe. We are already seeing strong interest from major retailers in this exciting solution.”

When used as a standalone solution, the Shopfloor 3PM system uses a series of cost-effective Android™-powered tablets to collect production information from key factory checkpoints that represent manufacturing process milestones; such as cutting, parts construction, select assembly operations, quality control inspections, finishing, packing and shipping. This data is processed in the cloud and made accessible to authorized users through any Internet-capable device. Factories that are already equipped with, or choose to install, the full Shopfloor SFC system can provide an expanded set of data on individual production operations as well as time and attendance, up/downtime, efficiency, utilization, incentive pay, capacity planning and scheduling, and other detailed information. Summary reports are also available through the system.

“Meeting customer demand in today’s fast-paced business environment requires that both buyers and sellers keep on top of manufacturing to stay ahead of the game”, explained Exenta Director of Real-time Analytics Justin Hershoran. “Shopfloor 3PM brings real-time visibility and control to entire supply chains with always up to date and actionable information.”

Posted June 28, 2018

Source: EXENTA

GREENSBORO, N.C. —June 28, 2018 — Denim brand Wrangler® published a report today with farm-management software company, MyFarms℠, explaining how field-level sustainability data can be used to strengthen business relationships and results in agricultural supply chains. Wrangler simultaneously announced it will offer 125 MyFarms subscriptions to U.S. cotton growers to make it easier for them to measure and report their sustainability data.

“From Burden to Benefit: Sustainability Data in the Agricultural Supply Chain” is the second paper in the Wrangler Science & Conservation series. It shares best practices for protecting data privacy and leveraging data analysis to advance common goals shared by growers, brands, and other links in the supply chain. The paper draws on Wrangler’s experience in the cotton supply chain to share learnings relevant to other food and fiber industries, including how to build trust with growers, and how to align the business interests of different links in the supply chain.

“Farmers work diligently to bring a cotton crop to harvest each year and their challenges are many,” said Roian Atwood, sustainability director for Wrangler. “As an apparel manufacturer, Wrangler wants to improve the environmental performance of our products. But to ask growers to make an additional effort to track and share farm-level data, we need to try to create something of value for them in return. That’s what we’re attempting to do with the MyFarms software.”

MyFarms is cloud-based software that helps growers make crop-management decisions by allowing them to anonymously compare their performance with their peers on metrics like average erosion rate and energy-use efficiency through integration of sustainability metrics from the Fieldprint® Platform — a pioneering sustainability assessment framework developed by Field to Market: The Alliance for Sustainable Agriculture. Other features include automated calculators to save growers time in determining how much seed, fertilizer and spray to purchase for their fields; hourly rainfall and wind speed data; and precision agriculture map analysis.

“The MyFarms platform was built by farmers for farmers to make their jobs easier and more profitable,” said MyFarms Founder and Managing Director Chris Fennig. “In funding the expansion of our data exchange to cotton growers, Wrangler has effectively gifted the industry with a powerful foundation for tracking and measuring both environmental outcomes and financial benefits.”

Wrangler funded the development of the cotton-grower interface on MyFarms, including a feature that will make it quicker and easier for cotton growers to measure their sustainability performance and operational efficiency utilizing Field to Market’s embedded sustainability metrics. Both Wrangler and MyFarms are members of Field to Market, and as a qualified data management partner, MyFarms uses the science-based metric outcomes data generated by the Fieldprint® Platform to quantify the environmental impact of cotton production for Wrangler, while returning valuable production insights to farmers.

The 125 MyFarms subscriptions will be available for the 2018 harvest season to cotton growers involved with numerous U.S. cotton initiatives, including e3 growers, Better Cotton Initiative (USA), Texas Alliance for Water Conservation and others.

“We’re excited to see the results of this software integration, particularly the support for cotton farmers through a seamless solution to measure the sustainability performance and efficiency of their operations by harnessing the sustainability metrics of the Fieldprint Platform,” said Rod Snyder, president of Field to Market. “Wrangler understands how important it is to reduce the reporting burden for farmers, and in the process they could be creating a wealth of new knowledge and opportunities for the entire supply chain.”

Posted June 28, 2018

Source: Wrangler

AIRPORT CITY, Israel —June 28, 2018 —  MySize Inc., a developer and creator of smartphone measurement applications, announced today it has been notified by the United States Patent and Trademark Office (USPTO) that it has been issued a patent to protect intellectual property with respect to its smartphone measurement technology.

The patent applies to the technology that powers My Size’s suite of smart mobile measurement solutions such as MySizeID™, BoxSizeID™, SizeUp™, QSize™ and more.

“We are pleased to have been issued this patent from the USPTO which adds another layer of intellectual property protection to our smartphone measurement solutions in the United States,” said My Size CEO Ronen Luzon. “As multiple industries including retail, parcel, and DIY continue to seek out technology solutions to help improve their bottom line, it is crucial for us to secure the competitive advantage that our innovative solutions bring to the market.”

U.S. Patent 10,004,429, titled “Method and system for measuring a path length using a handheld electronic device” includes repeatedly tumbling forward the handheld electronic device so as to cover the path to be measured; sensing a rotational change of the handheld electronic device; counting fractional increments of revolution of the handheld electronic device with respect to a starting position; and estimating the path length based on the counted fractional increments of revolution.

The company has now been issued two patents in the U.S. together with a patent in Russia and Japan as it continues to seek intellectual property protection for its innovative technologies. Prior to this issuance, the company received notification from the World Intellectual Property Organization that its pending patent application PCT/IL2016/050905 “A system for and a method of measuring using a handheld electronic devise” is in the National Phase of review in Russia.

Posted June 28, 2018

Source: My Size, Inc.