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NUTMEG, TRYRARE LIMITED AGREE ON ACQUISITION

 TAMPA, Fla., Dec. 18 /PRNewswire/-- Nutmeg Industries, Inc. (NYSE: NTM) today announced that it has agreed to acquire Tryrare Limited, a privately held British company engaged mainly in the sale of licensed sportswear.
 Tryrare, located near London, had revenues of approximately 6 million pounds sterling (approximately $9 million) in the most recent 12 months.
 Tryrare sells most of its products under the "Kick Sportswear" label under licenses from many of Europe's leading soccer clubs. The company has also begun to sell products licensed by certain U.S. professional sports leagues primarily in the United Kingdom.
 Richard Jacobson, Nutmeg's chairman and chief executive officer, said "The planned acquisition of Tryrare is consistent with our aggressive efforts to expand our successful international business. Tryrare's 'Kick Sportswear' European soccer business has grown quickly and represents an exciting opportunity for us. And, we believe that Tryrare's fine management team and the ability to manufacture in England will enable us to expand our combined U.S. professional sports business more rapidly in the European market."
 Jacobson said that the acquisition is subject to "several conditions" and that he expects it to close within 90 days.
 Nutmeg designs, manufactures and markets high-quality sportswear under licenses granted by Major League Baseball, the National Basketball Association, the National Football League, the National Hockey League, most major colleges and universities and other licensors. The licenses authorize Nutmeg to use team names, logos and other graphics on a wide variety of apparel.
 -0- 12/18/92
 /CONTACT: George N. Derhofer, senior vice president and chief financial officer of Nutmeg Industries, Inc., 813-247-6044/
 (NTM)


CO: Nutmeg Industries, Inc.; Tryrare Limited ST: Florida IN: TEX SU: TNM

JB -- FL003 -- 8064 12/18/92 08:49 EST
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Publication:PR Newswire
Date:Dec 18, 1992
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