KENT, Wash., March 11 (Reuter) - Gargoyles Performance Eyewear said Tuesday it has reached a preliminary agreement to acquire <Sungold I-Wear>, a manufacturer of premium sunglasses.
Terms of the transaction, which is expected to close in April, were not disclosed.
The premium sunglass industry, with $1.7 billion in retail sales, is ripe for consolidation, said the company, which added that it will look for further acquisitions.
The company said the purchase of Sungold will elevate it to the number-three position in domestic premium eyewear sales, behind Bausch & Lomb <BOL.N> and Oakley <OO.N>. Gargoyles' net sales were more than $33 million in 1996.
12:24 03-11-97
.............I just thought I would beat someone to saying it.
"Hey, maybe Nike will buy Oakley......"
B.C.L. |
