Delta Galil to acquire Eminence

Eminence brings to Delta a premium men’s label, ranked number two for market share in men’s underwear in France, and a product range including underwear, polos and technical tops, and the Eminence Tech + products. Athena adds a mass-market touch: an athletic range of underwear for the whole family with a modern and casual approach. In addition to the French brands, the transaction includes Liabel, founded in 1851 and embodying tradition and heritage in the underwear and t-shirts segment for the whole family, all while carrying a very strong reputation.

In 2019, Eminence Group is expected to amass approximately € 100 million in sales and $ 0.40 to $ 0.45 in earnings per Delta share, excluding transaction costs. This acquisition will allow Delta to accelerate and exceed $ 1.5 billion in sales.

In 2017, Eminence Group's net sales amounted to approximately € 99 million, with most sales being made in men's sector (87%) and the rest in women's (8%) and babies/children's (5%). The majority of the Group's sales were made in France (around 79% of total sales) and the rest in Western Europe - mainly in Italy (17%) and Belgium (3%) - under leading underwear brands. France (Eminence in selective circuit and Athena in large-distribution) and in Italy (Liabel).

"We are very happy to add Eminence to our portfolio, since it holds a dominant position on the French men’s underwear market, with a strong consumer appeal," said Isaac Dabah, CEO of Eminence Group. Delta Galil.