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Golden Touch Imports Acquires Apparel Company Jaclyn.

M2 EQUITYBITES-February 24, 2017-Golden Touch Imports Acquires Apparel Company Jaclyn

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24 February 2017 - Jaclyn Holdings Parent LLC, an affiliate of apparel company Golden Touch Imports, Inc. has completed its acquisition of US-based women's and children's apparel maker Jaclyn, Inc. (OTCQX: JCLY), the company said.

The purchase price was USD 7.85 per share.

Avalon Net Worth Solutions, Inc. acted as financial advisor to the company and Troutman Sanders LLP acted as legal advisor to the company in connection with the acquisition.

Levy Holm Pellegrino and Drath LLP and Fried, Frank, Harris, Shriver and Jacobson LLP acted as legal advisors to Golden Touch in connection with the acquisition.

Jaclyn, Inc. is a designer, manufacturer and marketer of apparel, women's sleepwear, infants' and children's apparel, handbags, premium incentives and related accessories. Website: jaclyninc.com

Golden Touch Imports, Inc. has been in business since 1975. The company designs, produces, and distributes apparel to many major retailers, primarily in junior, missy, plus, and girls sizes.

Houlihan Capital, LLC acted as financial advisor to the Special Committee of the board of directors of the company, and provided a fairness opinion in connection with the transaction to the Special Committee. Day Pitney LLP acted as legal advisor to the Special Committee.

Jaclyn is engaged in the design, manufacture, distribution and sale of women's and children's apparel (collectively, apparel products), and vinyl, leather and fabric handbags, sport bags, backpacks, cosmetic bags and related products (collectively, handbag products).

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Publication:M2 EquityBites (EQB)
Date:Feb 24, 2017
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