CONVERSE SIGNS LETTER OF INTENT TO ACQUIRE APEX ONE.NORTH READING, Mass.--(BUSINESS WIRE)--April 3, 1995--Converse Inc. (NYSE NYSE See: New York Stock Exchange :CVE (Common Vulnerabilities and Exposures) A list of information security exposures and vulnerabilities sponsored by US-CERT and maintained by the MITRE Corporation. ) today announced that it has agreed in principle to acquire Apex One, Inc. Terms were not disclosed. Apex One is a leading designer, developer and marketer of high quality, innovative activewear, outerwear, headwear head·wear n. A hat or other covering for the head. , footwear and related products under licenses from professional sports leagues  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. , including the National Football League, and other professional and college sports teams. For its recent fiscal year ended December, 1994 Apex generated revenues of approximately $100 million. Gib Ford, Chairman and Chief Executive Officer of Converse, stated "The acquisition of Apex will provide Converse with a strategic entry point into the licensed apparel sector and will allow us to expand our existing apparel business." Converse anticipates that the acquisition, which is subject to customary conditions, including satisfactory results of continuing due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and execution of a definitive agreement, is expected to be completed in May, 1995. Converse Inc., the largest U.S. manufacturer of athletic shoes, is a leading designer, manufacturer and marketer of high quality athletic and leisure footwear and is a licensor of sports apparel and accessories that are distributed worldwide through over 9,000 athletic specialty, sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport , department and shoe stores. CONTACT: Converse Inc. Investor Contact: Donald J. Camacho, 508/664-1100 Media Contact: Jennifer C.B. Murray, 508/664-1100 or Morgen-Walke Associates Robert Jones/Christine DiSanto, 212/850-5600 Stacy Berns, 212/850-5675 |
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