Andover Togs Inc. completes acquisition of certain assets of Dobie Industries Inc.NEW YORK--(BUSINESS WIRE)--Feb. 27, 1995--Andover Togs Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATOG ATOG Abnormal Transient Operational Guideline ATOG Allowable Take Off Gross (Weight) ) Monday announced that it has acquired the inventory, tradenames and customer orders of Dobie Industries Inc., a manufacturer of children's and women's apparel based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Terms of the transaction were not disclosed. On Feb. 15, 1995, Dobie Industries, which had revenue of approximately $32 million for 1994, filed a petition in the U.S. District Court for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of under Chapter 11 of the Federal Bankruptcy Code. The acquisition by Andover was approved on Feb. 22, 1995 by the Bankruptcy Court. Andover Togs Chairman William L. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. said that the transaction is considered attractive by Andover because it is expected to broaden Andover's base of distribution. He said that Andover expects to retain a majority of Dobie's revenue in the current fiscal year. Howard Rosenfeld, president of Dobie Industries, and other key individuals are joining Andover. Andover Togs Inc. manufactures children's and women's apparel. CONTACT: Andover Togs Inc., New York Alan Kanis, 212/244-0700 |
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