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Knitting / Apparel

Kellwood Completes Merger With Koret

Kellwood Co., St. Louis, recently announced the completion of its merger with Koret Inc.Koret, with sales of approximately $300 million, is a leading designer, manufacturer and marketer of moderately priced womens coordinated sportswear under the brand names Koret®, Napa Valley® and Jax®.Koret also markets accessories through its New Campaign division, and operates a number of retail outlet stores.Kellwood issued 5,241,000 new shares to acquire Koret, and the transaction will be accounted for as a pooling of interests.Korets management team of Martin J. Granoff, vice chairman, and Steven Rudin, president and CEO, will remain with the company serving in these capacities.

June 1999