Date Posted: 9/21/2005
Deluxe Sells Apparel Unit to Forsyth Holdings
ST. PAUL, Minn., Sept. 19 /PRNewswire-FirstCall/ -- Deluxe Corporation (NYSE: DLX - News) announced today that it has sold its PremiumWear, Inc. apparel unit to Forsyth Holdings, a privately-owned company headquartered in Toronto with offices in New York. Forsyth is one of the premier manufacturers and importers of woven dress and sport shirts in North America. Deluxe acquired PremiumWear as part of the New England Business Service, Inc. (NEBS) acquisition in June of 2004 and announced its intent to sell the apparel unit in January of this year. Deluxe was advised by the investment firm Goldsmith- Agio-Helms. Forsyth was advised by Kurt Salmon Associates Capital Advisors. Terms of the sale were not disclosed.
About Deluxe
Deluxe Corporation, through its industry-leading businesses and brands, helps financial institutions and small businesses better manage, promote, and grow their businesses. The Company uses direct marketing, distributors, and a North American sales force to provide a wide range of customized products and services: personalized printed items (checks, forms, business cards, stationery, greeting cards, labels, and shipping/packaging supplies), promotional products and merchandising materials, fraud prevention services, and customer retention programs. The Company also sells personalized checks and accessories directly to consumers. For more information about Deluxe, visit http://www.deluxe.com.
About Forsyth
Forsyth Holdings, based in Toronto, Canada, manufactures and imports dress shirts, sport shirts, knitwear, and other apparel, and has been manufacturing men's dress shirts in Canada since 1903. In the Canadian marketplace, Forsyth's apparel is licensed under the Arrow, Geoffrey Beene®, Pierre Cardin, Van Heusen®, Dockers®, and Daniel Hechter labels, among others. Forsyth presently supplies product to six of Canada's top 10 Canadian men's shirt retailers, and its stable of brands commands a leading Canadian market share of approximately 15% of the men's dress and sport shirt segment. For more information on Forsyth, visit http://www.forsythshirt.com.
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Source: Deluxe Corporation
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