Consolidation • Apparel/Textiles

The Blackstone Group Acquires GoldToe-Moretz

On August 15, 2006, private equity firm The Blackstone Group acquired apparel/textiles company GoldToe-Moretz from Vestar Capital Partners for 466M USD

Acquisition Context
  • This is The Blackstone Group’s 1st transaction in the Apparel/Textiles sector.
  • This is The Blackstone Group’s 139th largest (disclosed) transaction.
  • This is The Blackstone Group’s 70th transaction in the United States.
  • This is The Blackstone Group’s 9th transaction in New York.
Investment Fate
  • GoldToe-Moretz was sold to a publicly-traded strategic buyer in 2011 for 350M USD.

Explore All 38 Consolidation Apparel/Textiles Deals - Search the Database Free


M&A Deal Summary

Date August 15, 2006
Target GoldToe-Moretz
Sector Apparel/Textiles
Buyer(s) The Blackstone Group
Sellers(s) Vestar Capital Partners
Deal Type Consolidation
Deal Value 466M USD

Target Company

GoldToe-Moretz

Newton, New York, United States
Gold Toe-Moretz manufactures a broad portfolio of branded, licensed and private-label socks. 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.
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Buyer Overview 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


Deal Context for Buyer #
Overall 100 of 365
Sector: Apparel/Textiles 1 of 7
Type: Consolidation 1 of 1
State: New York 9 of 25
Country: United States 70 of 231
Year: 2006 10 of 16
Size (of disclosed) 139 of 185
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-07 U.S. Shipping Corp

Edison, New Jersey, United States

U.S. Shipping Corp is a provider of long-haul marine transportation services for refined petroleum, petrochemical and commodity chemical products in the U.S. domestic coastwise trade. The Company's existing fleet consists of twelve tank vessels: four integrated tug barge units; one product tanker; three chemical parcel tankers and four ATBs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-23 Travelport

Langley, United Kingdom

Travelport is a developer of a travel commerce platform to provide distribution, technology, payment and other solutions for the global travel and tourism industry. The company facilitates travel commerce by connecting the world’s leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel marketplace. Travelport was founded in 2006 and is based in Langley, United Kingdom.

Buy $4.3B

Seller Profile 1

SELLER

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


Deal Context for Seller #
Overall 29 of 67
Sector: Apparel/Textiles 3 of 4
Type: Consolidation 7 of 14
State: New York 3 of 5
Country: United States 26 of 54
Year: 2006 1 of 3
Size (of disclosed) 15 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-03 Seves Group

Tour Egee, Italy

Seves Group manufactures glass and composite insulators for high and medium power transmission and distribution systems, as well as glass blocks for architectural and interior design applications. Seves Group is based in Tour Egee, Italy.

Buy €375M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-11 StayWell

Yardley, Pennsylvania, United States

Staywell is a health empowerment company that enables populations to improve health outcomes through the science of behavior change. Staywell was founded in 1978 and is headquartered in St. Paul, Minnesota.

Buy -