Jones Acquires L.A.-Based RSV Sport
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Jones Apparel Group Inc., the maker of Jones New York clothing and Nine West Shoes, bought closely held RSV Sport Inc., the manufacturer of l.e.i. jeans for women and girls.
Jones Apparel, based in Bristol, Pa., paid $272.5 million in cash and about 1 million common shares valued at $35.04 each. About $83.2 million in debt was assumed, the company said in a statement.
Los Angeles-based RSV Sport, whose products are sold at retailers such as Kohl’s Corp., had $248 million in revenue last year.
Shares of Jones Apparel rose 16 cents to $37.42 in NYSE composite trading.
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