Baggallini, the Portland, Ore-based subsidiary of accessories marketer R.G. Barry Corp. (Nasdaq: DFZ) announced that its parent company has finalized a strategic transaction to acquire the outdoor niche KIVA brand from KIVA Designs, Inc., for an undisclosed cash price.
KIVA is a northern California-based, privately-owned developer and marketer of both men’s and women’s products, including functional outdoor and travel bags and accessories. For more than 20 years, KIVA’s eco-friendly, innovative outdoor gear has been designed to hold up to even the most demanding travel schedule.
The purchase of the KIVA brand and related assets closed this week. R.G. Barry senior management will discuss the purchase during their regularly scheduled investor conference call/webcast planned for the morning of Tuesday, Feb. 5.
“The KIVA purchase is a strategic move that fits nicely with our baggallini operations,” said R.G. Barry Corporation President and Chief Executive Officer Greg Tunney. “The products and reputation of the KIVA brand will strengthen our footprint within the growing outdoors and travel category and help us expand our bag-related business.”
“We are very excited to offer KIVA the same successful platforms that have allowed baggallini to consistently grow and prosper,” said baggallini President Dennis Eckols. “KIVA will retain its unique identity while sharing access to our best-in-class design, sourcing, customer service and supply chain systems.”