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PACIFIC TRAIL INC. ACQUIRED IN BUYOUT BY GKH PARTNERS AND MANAGEMENT

 SEATTLE, Jan. 12 /PRNewswire/ -- The senior management team of Pacific Trail Inc. and GKH Retailing Inc., a wholly owned subsidiary of GKH Partners L.P., today acquired privately held Mounger Corp., the parent company of Pacific Trail, announced Larry C. Mounger, chairman and chief executive officer of Mounger Corp., according to Pacific Trail.
 The specific terms of the transaction were not disclosed.
 The new parent company, PTI Holding Corp., intends to build on the strong retail and consumer franchise established more than 48 years ago by the Mounger family of Seattle. Pacific Trail is recognized within the apparel industry as one of the leading manufacturers of high- quality, value-oriented outerwear. The company is best known throughout the United States for its outstanding retail and foreign-sourcing relationships and its broad value-oriented and fashionable product offering for the entire family. The company's well-established labels include "Pacific Trail," "Inside Edge," "Pierson Outfitters," "Northern Exposure" and "Lookout."
 Mounger said the affiliation with GKH will enable Pacific Trail to continue building on the company's high product quality and service standards and increasing name recognition.
 "Combining the depth of Pacific Trail's senior management team with the resources of GKH Partners brings new opportunities to the company, its customers and employees," Mounger said. "Pacific Trail has served retailers for nearly 50 years, and the company will continue to be known as a single-source supplier of quality, brand-name outerwear."
 According to Ronald G. Epperson, president, who succeeds Larry Mounger as chief executive officer of Pacific Trail, "There are tremendous opportunities available within the apparel industry today as top retailers consolidate their sources of supply into a small group of highly capable and trusted vendors.
 "Our time-tested ability to serve retailers as a highly reliable single-source supplier of quality, brand-name outerwear for the entire family is a key strength upon which we will continue to build," Epperson said.
 "Pacific Trail is an exceptionally well-managed, established company that is well-positioned for the future," stated Dan Lufkin, a general partner of GKH Partners L.P. and chairman of PTI Holding Corp. "The combination of the retail industry's trend toward increased reliance upon a consolidating group of top vendors, Pacific Trail's strong consumer franchise and brand name identification, and the company's strong capitalization and access to financial resources as a result of this transaction should equip the company for continued success," Lufkin added.
 According to Epperson, who has been with the company for 27 years, Pacific Trail's strategy will be to maintain the high product quality and service standards established under the Mounger family's stewardship, while continuing to increase Pacific Trail's commitment to retailers in serving the outerwear market.
 In addition to Epperson and GKH, the other members of Pacific Trail's senior management team and investor group include: James R. Cyr, vice president-ski and outdoor division; Daniel H. Givens, vice president-sourcing; Michael T. Green, vice president-operations and sales administration; Gary E. Hansen, vice president-merchandising; Sookil Oh, Pacific Trail's overseas agent; and Robert E. Wendell, vice president and national sales manager.
 "With an average of more than 15 years experience in the apparel industry, Pacific Trail's executive corps is one of the industry's most experienced and seasoned management teams," said Lufkin. "The depth and commitment of the company's management will serve as the cornerstone for the further development of Pacific Trail's respected franchise and was a key determinant in GKH's investment decision, as an active investor in management-led buyouts."
 Founded in 1945 by Lowery C. Mounger Sr., Pacific Trail began with 10 employees and six power machines to capitalize on growing demand for men's and boys' outerwear at the end of World War II. Under the guidance of the Mounger family, the company expanded into the women's and girls' markets in 1968, and has grown to become one of the most respected brand names in the outerwear industry. Both Larry C. Mounger and his brother Glenn, chairman and vice chairman, respectively, will retire from Pacific Trail after spending their entire working careers in the family business. Larry Mounger plans to actively pursue new business interests.
 GKH Partners L.P. is an investment partnership whose general partners are entities controlled by Jay and Tom Pritzker, Dan Lufkin and Mel Klein. Jay and Tom Pritzker are private investors and chairman and president, respectively, of the Hyatt Corp. Lufkin is a founder of the investment banking firm of Donaldson, Lufkin & Jenrette; a former governor of the New York Stock Exchange; and has been involved in the acquisition of many businesses. Klein, an attorney and private investor, has been involved in the successful formation and development of numerous companies.
 -0- 1/12/93
 /CONTACT: Lori Jarman of Elgin Syferd/DDB Needham, 206-223-6411, for Pacific Trail/


CO: Pacific Trail Inc.; GKH Retailing Inc.; GKH Partners L.P.; Mounger
 Corp.; PTI Holding Corp. ST: Washington IN: TEX SU: TNM PER


SW-LM -- SE006 -- 4079 01/12/93 13:20 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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