A subsidiary of children's clothing manufacturer Carter's Inc. entered into a definitive agreement to acquire the competing brand OshKosh B'Gosh Inc., Carter's announced this week.
William Carter Company, Atlanta, will pay $26 per share in cash for each share of common stock outstanding, or about $312 million, for Oshkosh, WI-based OshKosh B'Gosh. The deal is expected to close in the third quarter.
The combined company will generate $1.3 billion in annual sales in the $17.5 billion baby and young children's apparel market, according to a statement from Carter's. The two brands will continue to be marketed through major retailers, Carter's and OshKosh B'Gosh branded stores and on various Web sites. OshKosh B'Gosh will remain a separate brand.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
