Jeantex Group Acquires Yves Castaldi Corp.
Jeantex Group, the Huntington Beach, Calif.–based manufacturer of denim for brands such as Stronghold Jeans, Blue Cult, Guess and Lucky Brand Jeans, announced it has signed an agreement to acquire the majority ownership of Los Angeles–based Yves Castaldi Corp.
Under the terms of the agreement, Jeantex will acquire 51 percent ownership of Yves Castaldi Corp. for 10 million shares of Jeantex restricted stock and $650,000 in cash. Yves Castaldi Corp.
designs and markets contemporary apparel under the Just Yves, I Generation and Instinct Yves brands and makes everything from premium denim for men and women to contemporary women’s fashions and accessories.
Founder Yves Castaldi will remain with the company as head designer for Just Yves, I Generation, Instinct Yves and other lines, according to a statement. Henry Fahman, Jeantex’s chairman, said the company hopes to expand Castaldi’s brand presence in specialty stores and department stores.
The Castaldi acquisition is the latest move by Jeantex to diversify its product offerings. In November, the company acquired Sanatex, a Commerce, Calif.–based low-cost private-label manufacturer. —Erin Barajas
