PEI Acquires Tropical
The bankruptcy court has approved Miamibased Perry Ellis International’s acquisition of certain domestic operating assets and the outstanding capital stock of Tropical Sportswear International, owner of several brands, including Savane and Farah, and licensing agreements, including Bill Blass and Van Heusen, for $88.5 million in cash. The deal is expected to close by the end of February. Among PEI’s current holdings are the Perry Ellis, Jantzen and Original Penguin labels.
