An article in a top trade publication mentioned that Veltex Apparel Co. has acquired the promotional products division of Explorer Headgear, a Markham, Ontario, Canada-based manufacturer of headwear, including many national private-label brands (Tommy Hilfiger, Budweiser, Spaulding, etc.).
According to the trade publication, Explorer's total sales were about $23 million in 2004. At present, there are no plans to relocate or change personnel at the firm. Javeed Martin, Veltex president and CEO, says, "Explorer is one of the three top headwear firms in Canada. It wanted a U.S. presence, and we wanted a Canadian presence, so it was a very good fit. Here is the link to the acquisition news in Investors Business Daily. http://www.investors.com/corporatenews/nw42.asp
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