CFI advised Rupa & Co. on a license agreement between Oban Fashions and Fruit of the Loom

Mumbai – CFI is pleased to announce it acted as the exclusive corporate finance advisor to Rupa & Co. on a license agreement between Oban Fashions P. Ltd (a Wholly-Owned Subsidiary (“WOS”) of Rupa & Company Ltd.) and Fruit of the Loom, Inc., USA (a Wholly-Owned Subsidiary of Berkshire Hathaway Company) to manufacture, distribute, advertise and sell innerwear and outerwear products for men, boys, women, girls and toddler in India, under their brand names and marks.

Fruit of the Loom, Inc. designs, manufactures, and markets underwear, activewear, and casualwear for men, women, boys, and girls. The company offers boxers, boxer briefs, briefs, undershirts, T-shirts, sweats, and pants/shorts; apparel for toddlers; and bikinis, boy shorts, hi-cuts, tanks/camis, and hipsters. It markets and sells its products through retailers and online stores in the United States and Canada. Fruit of the Loom, Inc. was formerly known as B.B and R Knight Corporation and changed its name to Fruit of the Loom, Inc. in 1856. The company was founded in 1851 and is based in Bowling Green, Kentucky. Fruit of the Loom, Inc. operates as a subsidiary of Berkshire Hathaway Inc.

CFI India was hired to identify a renowned global brand of inner wear for men as a joint venture partner for Rupa & Co. After doing extensive research and contacting few global leading players, CFI India was able to introduce Fruit of the Loom, Inc., USA (a Wholly-Owned Subsidiary of Berkshire Hathaway Company) which is leading player in this segment. This eventually lead to execution of License Agreement between Oban Fashions P. Ltd (a Wholly-Owned Subsidiary of Rupa & Company Ltd.) and Fruit of the Loom to manufacture, distribute, advertise and sell inner wear and outerwear products for men, boys, women, girls and toddler in India, under their brand names and marks.

The transaction closed on 1 March 2017.