Transactions

  • October 30, 2017 - Roberta Roller Rabbit has been sold to an investor group

    Avalon Net Worth has identified an investor group for the acquistion of Roberta Roller Rabbit... 

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  • March 31, 2017 - Atlantic Street Capital portfolio's company, Alex Apparel Group, Inc., have acquired Sally Lou Fashions

    Avalon Net Worth has identified a strategic target company for Atlantic Street Capital and its portfolio company, Alex Apparel Group, to aquire... 

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  • March 02, 2017 - ANW has advised on the sale of Jaclyn, Inc. (OTCMKTS:JCLY), to an affiliate of Golden Touch Imports, Inc.

    Jaclyn, Inc. (OTCMKTS:JCLY), a $175 million (revenues) multi-line fashion and accessory firm, has been sold to an affiliate of Golden Touch Imports, Inc. ... 

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  • February 27, 2017 - Molli Partners LLC has sold its four shoe brands to Teshoeque LLC

    Molli Partners LLC has completed a sale of it's major brands to Teshoeque LLC... 

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Noteworthy

  • October 17, 2017 - Global Private Wealth Dallas Forum on Macroeconomics

    At the 2017 GPW Dallas Forum our Co-CEO, Lynda Davey, spoke alongside other prominent industry executives regarding the current

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  • July 25, 2017 - Retail Summer School at Columbia Business School

    Richard Jaffe, a Managing Director at Avalon, along with Shoptalk, will host the 9th Annual Retail Summer School at

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  • May 10, 2017 - Retail’s Private Equity Legacy: Big Debt, Big Problems

    In an article published by WWD magazine our Co-CEO, Jack Hendler, shares his insight on Private Equity in the

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  • April 04, 2017 - Why Millennials and Mid-Market Firms Are a Fashion Match

    Apparel magazine published an article where our Co-CEO, Jack Hendler, discusses Milennials and Retail...    Read More...

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London Fog sells Pacific Trail division to Columbia Sportswear

NEW YORK & PORTLAND - (BUSINESS WIRE) - The London Fog Group announced today that as part of its financial restructuring pursuant to its Chapter 11 reorganization, the company has agreed to sell its Pacific Trail outerwear business and related brands to Columbia Sportswear Company for $20.4 million plus the assumption of certain services. The agreement is the culmination of a public auction held yesterday in which Columbia was the highest bidder. The sale is effective today. London Fog Group also announced that its $40 million in debtor-in-possession (DIP) financing provided by Wachovia Bank, N.A. has been approved by the Bankruptcy Court. The DIP financing is intended to support London Fog Group's working capital needs during its reorganization.

In an effort to secure sufficient working capital to properly fund its core operations, on March 20, 2006 London Fog Group filed a voluntary petition to reorganize under Chapter 11 of the United States Bankruptcy Code. The sale of Pacific Trail represents a major step in the Company's plan to improve its financial position. London Fog Group continues to operate its businesses under Chapter 11, as it implements its restructuring.

David Greenstein, CEO of the London Fog Group, commented; "The divestiture of our Pacific Trail business represents a major step in our plan to financially restructure London Fog Group. We were very pleased by the broad interest in and active bidding for the Pacific Trail business. We believe the transaction is in the best interests of Pacific Trail and the talented team of professionals that lead the business. Columbia is the ideal company to continue building on the success of the Pacific Trail and related brands this season and going forward."

Trademarked brands included in the sale are Pacific Trail(R), Pac-Tech(R), Towne(R), Outdoor Unlimited by Pacific Trail(R), Black Dot and Moonstone(R).

New York-based Avalon Group Ltd. represented the London Fog Group and facilitated the auction process in conjunction with the Bankruptcy Court.

Pacific Trail is a quietly powerful brand with an 60-year tradition of quality in the outerwear and sportswear world, and roots as an authentic Northwest lifestyle brand. The brand has a powerful emotional connection to the rugged outdoor life and leisure of the Pacific Northwest, and a prominent position at major national retailers and has built a national reach and possesses a particularly attractive base of personnel, brands and assets targeting the outwear, sportswear, footwear and home textile markets. Pacific Trail is currently growing its consumer presence and retail footprint with additional licensing and new product development.

Following the completion of the Pacific Trail sale, the London Fog Group will be comprised of two principal operations:

London Fog is a great American apparel brand, ranked #32 of the top 100 brands by Women's Wear Daily. Created in the 1920s, London Fog became the ubiquitous symbol of American rainwear with the introduction of the classic trench. Today, London Fog is being made into a powerful must-have global lifestyle brand in the designer tier, showcased in the most prestigious retail venues and with the highest caliber product in fashion, accessories, outerwear and fragrance.

Homestead is the premier designer and manufacturer of home fashions in the U.S. today. The company has extensive experience in a wide range of home textiles for major designers and private label brands. The Homestead portfolio includes brands such as Angela Adams, Collier Campbell, Nancy Koltes, Dreams by Peacock Alley, Preston Bailey, Jeffrey Bilhuber, The Art of Home Ann Gish, Cubanitas, MaryJane Butters, Pacific Trail Home and others.