New York-based Hampshire Group Ltd. has sold Rio, its Honduras-based apparel company.
Rio specializes in the manufacturing, design and sourcing of knit tops for men, women and children. The tops are sold to an array of retailers and distributors, mostly in the United States.
“The sale of this business was an integral part of our plan to solidify our balance sheet,"
Hampshire Group CEO Paul Buxbaum said. "With this accomplished, we are fully focused on re-establishing a growth trajectory for revenue and profitability through the continued development of our core brands business anchored by our Dockers and James Campbell brands. We are pleased to have completed this transaction ahead of the schedule that we set forth in our May 2015 amendment, and we wish the Rio team well."
Hampshire Group, along with its wholly owned subsidiary Hampshire Brands, Inc., is a provider of a wide range of fashion apparel that specializes in men's sportswear. Hampshire products are found in department stores, chain stores and mass market retailers.
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