LF USA Acquires Oxford Apparel
LF USA, a division of Hong Kong–based Li & Fung Ltd., acquired Oxford Apparel, a private-label division of Atlanta-based Oxford Industries Inc., for $121.7 million. J. Hicks Lanier, chairman and chief executive officer of Oxford, said the deal will give Oxford Industries the financial flexibility to “pursue acquisitions and opportunistically enhance our capital structure.” Oxford Apparel produces branded and private-label apparel for department stores, mass merchants, catalog retailers, discounters, specialty stores, golf merchants and e-tailers. Oxford Industries’ portfolio includes Tommy Bahama and Ben Sherman. The Oxford Golf brand, which is part of the Oxford Apparel unit, and distribution center in Lyons, Ga., are not included in the transaction, which is expected to close by the end of the year.
