Baggallini Purchases Kiva Designs
Gary Evans -- Gifts & Dec, January 23, 2013
PICKERINGTON, OH - Baggallini, the subsidiary of accessories marketer R.G. Barry Corp., reported that its parent company has finalized a strategic transaction to acquire the outdoor accessories company, KIVA brand from KIVA Designs Inc.
The purchase of the KIVA brand and related assets closed on Tuesday, Feb. 22, for an undisclosed amount. R.G. Barry senior management will discuss the purchase during their regularly scheduled investor conference call/webcast planned for the morning of Tuesday, Feb. 5.
"The KIVA purchase is a strategic move that fits nicely with our baggallini operations," said Greg Tunney president and CEO, R.G. Barry Corporation, in a statement. "The products and reputation of the KIVA brand will strengthen our footprint within the growing outdoors and travel category and help us expand our bag-related business."
KIVA is a northern California-based, privately-owned developer and marketer of both men's and women's products, including functional outdoor and travel bags and accessories. For more than 20 years, KIVA's eco-friendly, innovative outdoor gear has been designed to hold up to even the most demanding travel schedule.
"We are very excited to offer KIVA the same successful platforms that have allowed baggallini to consistently grow and prosper," said Dennis Eckols, president, baggallini. "KIVA will retain its unique identity while sharing access to our best-in-class design, sourcing, customer service and supply chain systems."