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Hosiery Industry Leaders Gold Toe and Moretz to Combine.

Article Excerpt
NEW YORK & NEWTON, N.C. & BURLINGTON, N.C. -- Two of the hosiery industry's leading companies, Gold Toe Investment Corp. and Moretz Inc., will combine in a transaction announced today, creating one of the largest global sock companies. The deal is backed by an investment from The Blackstone Group, a global private investment and advisory firm, which is acquiring Gold Toe and simultaneously facilitating a merger between the two companies.

In addition to a meaningful direct presence via its online and owned and operated outlet stores, the combined company will be a leading supplier to the department store and specialty sporting goods channels and have a significant presence in the growing mass market channel. The company will possess a diverse portfolio of highly recognized brands across all retail channels. Together, Gold Toe and Moretz will have the financial and management resources to pursue new growth opportunities by expanding product lines and distribution.

The senior management teams of Gold...