Li & Fung says to buy US Wear Me apparel business

Published: 19 Oct 2009 01:20:14 PST

HONG KONG, Oct 19 - Leading global consumer goods exporter Li & Fung said on Monday that it will pay up to $402 million to buy the young men's and children's apparel business in the United States of Wear Me Group.

The acquisition would enable Li & Fung to expand into new markets and categories and benefit its portfolio of brands and private label businesses, the company said in a statement.

for company statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20091019/LTN20091019179.pdf