Gildan Wins Bid for American Apparel
Gildan Activewear yesterday won a bankruptcy auction to buy American Apparel for about $88 million in cash. Gildan will not take any of American Apparel's 110 stores-leaving their fate unknown, but will get rights to its brand, and some of its manufacturing equipment.
The company will also take over some of American Apparel's manufacturing plants in southern California, Reuters reported, one of the largest garment-making operations in the United States, with about 3,500 employees. The auction for American Apparel attracted companies like Amazon, Forever 21, and California-based Next Level Apparel, but Gildan outbid all of them, raising its initial offer of $66 million. The Gildan takeover is still subject to a bankruptcy judge approving it on Thursday.
Ball Pro Acquires Diversified-Adtee
Eden Prairie, MN based Ball Pro announced that has acquired Diversified-Adtee of Normal, IL effective January 1, 2017.
Ball Pro president Tim Hanson, MAS, stated, “Ball Pro has been looking for product lines the past few years to broaden our offerings. Diversified-Adtee sells quality kitchenware and golf products. The golf products fit nicely into Ball Pro’s current offerings. Golfers, more than ever, are looking for products such as drink wear, steak knives, grill sets and other kitchen products they can use daily.”
Kevin Mullroony, president of Diversified-Adtee, will be joining Ball Pro as a vice president of sales. He will continue to reside in Illinois. The equipment and inventory have already been moved to Minnesota, thus allowing the business to run uninterrupted. Both companies will be in booth #5545 at the PPAI Las Vegas Expo this week and at ASI Orlando next week.
Schenker Named GCPPA Executive Director
The Gold Coast Promotional Products Association (GCPPA) is pleased to announced that Mike Schenker, MAS/MASI, will serve as executive director of the association. GCPPA president Jean Kalinsky, BASI, reports that, “The board is excited to have someone with Mike’s promotional industry experience and recognition join us as executive director. His years working with both SAAGNY and PPAI made him the ideal choice for managing our association, facilitating growth and for providing our members, nationwide, with the services and offerings of a leading regional association.”
Mike, who lists himself as “All That” at Mike Schenker, Consulting, has been in the promotional products industry for many years as both a distributor and supplier. He has been a contributing editor at Identity Marketing for 20 years and is also recognizable as one of the administrators of the popular “Promotional Products Professionals” group on Facebook.
“I’m honored to be joining this great group of dedicated promo industry people,” Schenker said. “This association is on the verge of some very exciting times and I’m happy to lead it into the future.”