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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 24, 2000
GERBER CHILDRENSWEAR, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 1-5256 62-1624764
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
7005 Pelham Road, Greenville, SC 29615
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (864) 987-5200
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On May 24, 2000, Gerber Childrenswear, Inc. (the "Company")
announced it has hired First Union Securities to assist it in maximizing
shareholder value. The complete text of the press release issued by the Company
is attached hereto as an exhibit and is hereby incorporated by reference in its
entirety to this item.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
c. Exhibits
99.1 Press Release, dated May 24, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GERBER CHILDRENSWEAR, INC.
Dated: May 24, 2000 By: /s/ Richard L. Solar
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Richard L. Solar
Senior Vice President and
Chief Financial Officer
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Exhibit 99.1
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[GERBER CHILDRENSWEAR, INC. LETTERHEAD]
For: Gerber Childrenswear, Inc.
Contact: Richard Solar
Senior Vice President and
Chief Financial Officer
(212) 268-5100
FOR IMMEDIATE RELEASE
Investors: Stacey Bibi/Lindsey Schaefer
Media: Stacy Roth/Kimberly Mark
Morgen-Walke Associates
(212) 850-5600
GERBER CHILDRENSWEAR, INC. HIRES FIRST UNION SECURITIES TO EXPLORE
STRATEGIC ALTERNATIVES
New York, New York, May 24, 2000 - Gerber Childrenswear, Inc.
(NYSE:GCW) today announced that it has hired First Union Securities to assist
the Company in maximizing shareholder value. First Union will explore strategic
alternatives for Gerber, including a possible merger or acquisition of the
business. Until a definitive decision has been made on the strategic direction,
the Company does not intend to make further announcements on the status or
results of the process.
Edward Kittredge, Chairman, President and Chief Executive Officer,
stated, "While we have a strong financial position, a widely recognized brand
name, and a solid platform for growth, we are currently exploring strategic
alternatives in an effort to maximize value for our shareholders."
Gerber Childrenswear, Inc. is a leading marketer of infant and toddler
apparel and related products, which it offers under its flagship licensed brand,
Gerber, as well as the Baby Looney Tunes, Curity and Little Suzy's Zoo licensed
brand names and the Onesies trademark. The Company is the leading provider of
these products to volume retailers, and also distributes to mid-tier department
stores and specialty retailers. In addition,
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Gerber Childrenswear, Inc. acquired Auburn Hosiery Mills, Inc. and Sports Socks
Company (Ireland) Limited (collectively referred to as "Auburn") in December
1997. Auburn manufactures, markets and sells branded sport socks for men, women
and children under licensed brand names such as Wilson, Coca-Cola, Converse and
Dunlop.
This press release contains statements that are forward-looking within the
meaning of applicable federal securities laws and are based on Gerber
Childrenswear, Inc.'s current expectations and assumptions, which are subject to
a number of risks and uncertainties that could cause actual results to differ
materially from those anticipated. Primary factors that could cause actual
results to differ are indicated in the Company's filings with the Securities and
Exchange Commission.
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