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8th May 2018, Tel Aviv

Delta Galil to acquire French men’s underwear group

Eminence would bring to Delta a men’s premium French brand, which has the second largest men’s underwear market share in France.Delta Galil Industries, a manufacturer and marketer of branded and private label apparel products for men, women and children, as well as leisurewear, activewear and denim, has signed an agreement to acquire Eminence SAS and its subsidiaries, which includes leading French underwear brands for men, women and children: Eminence and ATHENA and the Italian brand Liabel.

The transaction is expected to close in the third quarter of 2018. For 2019, Eminence is expected to contribute approximately EUR 100 million of revenue. This transaction would accelerate Delta revenue to exceed $US 1.5 billion, the company reports.

“We are very pleased to look at adding the Eminence Group to our portfolio, as it represents a dominant leader in French men’s undergarments, with strong consumer appeal,” said Isaac Dabah, CEO of Delta Galil. “This is a very compelling transaction for Delta that reflects our strategic efforts to expand our branded business and introduce Delta in a significant way to France & Italy where our activities to date have been small. By providing potential synergies in products, innovation and operations, we see this opportunity as a platform for growth.”

Eminence brands

Eminence would bring to Delta a men’s premium French brand, which has the second largest men’s underwear market share in France, with products ranging from undergarments to polo and technical shirts to Eminence Tech+.

ATHENA adds a sporty and athletic, family mass market French undergarment brand that is modern and cool. In addition to the French brands, the transaction includes Liabel, an Italian brand, founded in 1851, which stands on heritage and tradition and brings strong brand awareness as a mass market Italian T-shirt and underwear brand for the entire family.

In 2017, Eminence Group's net sales totalled around EUR 99.0 million, with most of the products designated for men (87%) and the remainder for women (8%) and kids and babies (5%). Most of the Group's sales are to the French market, and the remainder in Western Europe – mainly in Italy and in Belgium – under leading underwear brands in France (Eminence in the upper market and ATHENA in the mass market) and an Italian underwear brand (Liabel).

Delta Galil

Delta Galil Industries is a leading manufacturer and marketer of branded and private label apparel products for men, women and children. Founded in 1975, Delta Galil develops innovative seamless apparel including bras, shapewear and socks; intimate apparel for women; extensive lines of underwear for men; babywear, activewear, sleepwear, and leisurewear.

Delta Galil also designs, develops, markets and sells branded denim apparel under the brand 7 For All Mankind, and ladies apparel under the brands Splendid and Ella Moss.

www.deltagalil.com

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