Printer Friendly

HANOVER DIRECT COMPLETES ACQUISITION OF TWEEDS CATALOG

 WEEHAWKEN, N.J., Oct. 1 /PRNewswire/ -- Hanover Direct, Inc. (AMEX: HNV) today announced that it has completed the acquisition of the women's fashion catalog, Tweeds, Inc. The purchase price consists of approximately $3.6 million in Hanover Direct common stock, the assumption of $5.3 million in bank and other long-term debt and $100,000 in cash.
 The acquisition of Tweeds, an upscale fashion catalog targeting upper-income women, strengthens Hanover Direct's presence in the women's apparel market. Hanover Direct currently operates in a number of specialized women's fashion niches through its catalogs; Silhouettes, offering an extensive collection of clothing and accessories to large- size women; Simply Tops, featuring a wide array of distinctive contemporary wear for women of all ages; and Essence by Mail, offering fashions, books, art prints and collectibles primarily to African- American women.
 Tweeds is the third recent acquisition by Hanover Direct. In July, Hanover Direct acquired Gump's, the San Francisco specialty retailer and cataloger. Earlier this month, Hanover acquired The Company Store, a leading direct marketer of high-quality down comforters, other down products and home furnishings.
 Hanover Direct, which recently changed its name from The Horn & Hardart Company, is the largest multi-title direct retailing company in the U.S. Hanover Direct is headquartered in Weehawken.
 -0- 10/1/93
 /CONTACT: Michael P. Sherman, executive vice president, 201-319-3403, or Linda S. Heinberg, director of investor relations, 201-319-3491, both of Hanover Director; or Davis Weinstock II of Clark & Weinstock, Inc., 212-953-2550/
 (HNV)


CO: Hanover Direct, Inc.; Tweeds, Inc. ST: New Jersey IN: REA SU: TNM

MP-PS -- NY015 -- 7664 10/01/93 09:16 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 1, 1993
Words:266
Previous Article:HEALTH AND REHABILITATION PROPERTIES TRUST ANNOUNCES INCREASE IN QUARTERLY DIVIDEND TO 33 CENTS PER SHARE
Next Article:OCEANEERING ANNOUNCES NEW CONTRACT FOR FPSO OCEAN PRODUCER
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters