NEW YORK CITY — April 27, 2022 — Centric Brands LLC announced today the strategic acquisition of a division of Daytona Apparel Group, a portfolio of retail brands owned by Windsong Brands, that closed on March 24 of this year. Centric will take full ownership of Daytona Apparel Group’s hosiery division which sells product across multiple brands in stores nationwide. Daytona Apparel will continue to independently operate their other categories.
The acquisition will be merged into Centric’s growing accessories division led by Jarrod Kahn, Group president, Accessories. The addition of Daytona’s hosiery business expands Centric’s retailer relationships and its private label and licensed businesses. The acquisition also adds diversity and scale to Centric’s portfolio with new untapped brands, strong recurring year-round replenishment businesses, and an expanded diversified sourcing model. As part of the transaction, Centric will assume new license agreements including Stanley, Free Country, Real Tree, and Umbro. In addition, a number of associates from the hosiery team at Daytona will join Centric and report to Abe Dweck, Executive Vice President, Accessories.
“The strategic growth of Centric is fueled by our expertise in product, operations, and relationships. Acquisitions that assist in accelerating growth are very attractive to us. Our scale and competitive edge in the accessories marketplace benefits from this transaction,” said Jason Rabin, CEO of Centric Brands. “We welcome our new team members and look forward to continuing to deliver best-in-class product and service to our customers.”
Posted: April 28, 2022
Source: Centric Brands LLC