Active Apparel Group completes acquisition of Everlast

Shareholders of Active Apparel Group Inc. (New York) yesterday approved the company's previously announced acquisition of sporting goods and apparel manufacturer Everlast. The shareholders also approved changing the company's name to Everlast Worldwide Inc., among other matters.

According to Everlast Worldwide chairman and CEO George Q. Horowitz, the company has a management team in place, a strategic plan that it will implement immediately, and the financial resources to generate significant and profitable growth.

"Looking ahead, our immediate focus will fall on improving our relationships with our licensees," Horowitz added. "We will open new geographic markets and, of course, introduce new Everlast products, which will also enhance our image."

Everlast Worldwide Inc. manufactures, markets, and licenses sporting goods and apparel products under the Everlast brand name.

For more information, contact George Q. Horowitz, chairman, CEO, and president of Active Apparel Group Inc., at 212-239-1412.

Edited by Jim Pomager

Source: Active Apparel Group Inc.