Randa completes Swank acquisition
Randa Accessories Leather Goods has completed its acquisition of leather belt and accessories brand Swank in a deal worth approximately $57.3 million.
Swank will continue to operate as a wholly-owned subsidiary of Randa, led by John Tulin, its current chairman and chief executive officer. Mr Tulin will report to Jeffrey Spiegel, Randa's chief executive officer.
Mr Spiegel said: "We are very pleased that Swank is joining our family of companies. The strategic benefits of this combination are clear and we are happy to have provided terms that were financially attractive for Swank's stockholders.
"Randa continues to invest in the future of our company, our associates, and our retail and brand partners. This acquisition provides additional classifications, points-of-sale, brands, and scale to our growing business."
