SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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): January 28, 1999
SUPREME INTERNATIONAL CORPORATION
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(Exact name of registrant as specified in its charter)
FLORIDA 0-21764 59-1162998
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State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
3000 N.W. 107TH AVENUE, MIAMI, FLORIDA 33172
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (305) 592-2830
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Item 5. OTHER EVENTS.
See the press release attached hereto as Exhibit 99.1.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release
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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.
SUPREME INTERNATIONAL CORPORATION
Date: February 9, 1999 By: /s/ ROSEMARY B. TRUDEAU
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Rosemary B. Trudeau, Vice President
of Finance
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
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99.1 Press Release
EXHIBIT 99.1
FOR: Supreme International Corporation
APPROVED BY: Rosemary Trudeau
Supreme International Corporation
305-418-1294
CONTACT: Press:
Lorna Sheridan
Gavin Anderson & Company
212-373-0235
FOR IMMEDIATE RELEASE Investor Relations:
Shannon Moody/Kiron Bloom
Financial Media:
Michael McMullan
Morgen-Walke Associates
212-850-5600
SUPREME INTERNATIONAL TO ACQUIRE
PERRY ELLIS INTERNATIONAL
-ALL CASH TRANSACTION VALUED AT $75 MILLION-
-EXPECTED TO CLOSE WITHIN 60 DAYS-
Miami, Florida and New York, New York, January 29, 1999 -- Supreme
International Corporation (Nasdaq:SUPI) and Perry Ellis International today
announced that they have reached a definitive agreement under which Supreme
International will acquire in cash all of the stock of Perry Ellis International
in a transaction valued at approxiamtely $75 million. The transaction is
expected to close within 60 days and is subject to various conditions including
regulatory approvals such as the Hart-Scott-Rodino Anti-Trust Act.
Perry Ellis International is a privately-held company that owns and
licenses the Perry Ellis trademarks and assorted rights in the United States and
abroad. Supreme International is acquiring all the trademarks of the Perry Ellis
brand, of which many are licensed to other companies covering a variety of
product categories. Total annual retail sales for Perry Ellis branded products
are estimated to be $900 million across 39 categories.
- more -
[Morgen-Walke Associates Letterhead]
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SUPREME INTERNATIONAL TO ACQUIRE Page: 2
PERRY ELLIS INTERNATIONAL
"This acquisition represents a great leap forward for Supreme," said
George Feldenkreis, Chairman and Chief Executive Officer of Supreme
International. "Perry Ellis International has done a phenomenal job of
translating Perry's vision into the 90's, and it is with great pride and
excitement that Supreme assumes the responsibility of carrying forward Perry's
vision into the new millenium."
"We are confident that this transaction is in the best interest of
Perry Ellis International and its owner," stated Christopher C. Angell, Chairman
of Perry Ellis International and one of the Trustees of the Trust that owns
Perry Ellis International. "Perry Ellis International President, Max Garelick,
and his team have done an outstanding job with the brand and have created a
strong foundation on which a larger entity, like Supreme, can build. We have a
great deal of respect for Supreme, and for George and Oscar Feldenkreis, and are
confident that they will uphold the integrity of the Perry Ellis name in the
future."
Oscar Feldenkreis, President and Chief Operating Officer of Supreme
International commented, "There are tremendous opportunities for the Perry Ellis
brands. Together with our family of licensees, Perry Ellis will be a preeminent
brand not only in menswear, but also in other categories such as womenswear and
accessories, in the United States as well as worldwide."
Supreme International designs, imports, and markets men's and boy's
fashion sportswear under a variety of brand names such as Crossings/registered
trademark/, Natural Issue/registered trademark/, Munsingwear/registered
trademark/, Andrew Fezza/registered trademark/ and Ping/registered trademark/.
Supreme's products are sold to department stores, chain stores, specialty
stores, and mass merchants throughout North America and other countries.
FORWARD-LOOKING STATEMENTS (STATEMENTS WHICH ARE NOT HISTORICAL FACTS)
IN THIS RELEASE ARE MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995. SUPREME'S ACTUAL RESULTS COULD DIFFER
MATERIALLY FROM THOSE EXPRESSED OR INDICATED BY FORWARD-LOOKING STATEMENTS.
FACTORS THAT COULD CAUSE OR CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT
LIMITED TO, CHANGES IN FASHION TRENDS, RISKS RELATING TO THE RETAIL INDUSTRY,
USE OF CONTRACT MANUFACTURING AND FOREIGN SOURCING, IMPORT RESTRICTIONS,
COMPETITION, SEASONALITY AND OTHER FACTORS. INVESTORS ARE CAUTIONED THAT ALL
FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES, INCLUDING THOSE
RISKS AND UNCERTAINTIES DETAILED IN THE COMPANY'S FILINGS WITH THE SECURITIES
AND EXCHANGE COMMISSION.
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