Latest Hickey Freeman Acquisition Closed
The Rochester-based operations of iconic clothing brand Hickey Freeman have been sold yet again.
Montreal-based clothier Samuelsohn became the latest parent company of the brand when the deal closed Friday.
Samuelsohn purchased the Rochester-based factory from W-Diamond group, also taking over a 40-year license agreement with the owner of the Hickey Freeman brand, Authentic Brands Group.
W-Diamond group CEO, Doug Williams says he’ll continue to be involved with the brand. He says this latest deal will promote growth and add jobs in Rochester.
“We’ve put together a transaction that will add incremental production, more jobs to the Rochester facility, capitalize the business even better than I had done it, and really merge two great heritage brands under one management,” Williams says.
“The plan is to grow the Hickey Freeman business by over 50 percent over the next two to three years, as well as bring in new businesses to the Rochester manufacturing plant.”
The union representing most Hickey Freeman workers in Rochester says the deal brings stability and security to local jobs.
Williams says the Rochester plant is an integral part of the company’s legacy, and he expects to see local employment increase by 2014.
“This is all about growth, and we’re all focused on how do we continue to inspire the consumer with the Hickey Freeman product, we believe that made in the USA and made in Rochester is what makes Hickey Freeman special.”