Bahamas Development Corp. Announces the Acquisition of IPW U.S. Apparel Manufacturing Company Assets
- Acquisition ensures solid manufacturing infrastructure to support significant growth
WEST PALM BEACH, Fla., March 30, 2017 /PRNewswire/ -- Bahamas Development Corporation (OTC PINK: BDCI), announced today that it has acquired the apparel manufacturing assets of Incite Brands LLC through private non-dilutive financing. Incite's manufacturing arm is best known as Incite Performance Wear (IPW). IPW is a full package cut and sew operation with dye sublimation printing company that manufactures custom private-branded performance wear shirts and apparel to approximately 500 wholesale accounts.
The IPW manufacturing assets will be integrated into BDCI's Apparel Brands and Manufacturing operations, including its recently acquired Native Outfitters Performance Apparel Company. BDCI expects to have the IPW manufacturing operations fully integrated within the next 60 days.
The IPW acquisition allows BDCI to capitalize on significant synergies through the alignment of production operations in Incite's manufacturing facilities. The optimization of manufacturing capacity provides strong infrastructure to support the Company's growth. The acquisition also enables BDCI to achieve enhanced purchasing leverage of raw materials and consolidation of its labor force, which greatly reduces manufacturing costs.
During and after the integration of IPW, Incite Brands will continue to support BDCI with Sales and Marketing support.
"We are very excited about this acquisition as it immediately more than doubles our current annualized sales revenue to over $2.4 Million dollars and gives us the much-needed increased production capabilities to support our huge order backlog from our Native Outfitters brand. In addition, Incite also provides us with a solid and scalable manufacturing foundation to support many apparel brands, new products and the Made in the USA, custom, private label performance apparel business," said Eugene Caiazzo, BDCI's President.
About Incite Performance Wear:
IPW is a full package cut and sew with dye sublimation printing company that manufactures custom private-branded 100% moisture wicking polyester performance wear shirts with UPF 40 Sun Protection. The Company's manufacturing process is very unique and unlike most apparel companies. What makes the company different from others, is the way that it manufactures their performance shirts. Incite sources fabric in from its supplier mills, cuts it to size and dye sublimate prints the individual pieces of the shirt before the shirt is sewn together. This enables the company to deliver very high quality, seamless, 'Made in the USA' performance shirts that are competitively priced. IPW manufactures private branded performance apparel for many industries that include: Fishing, Marine, Agricultural, Hospitality, Team Sports, Outdoor Activewear, Military and many Non-Profit Organizations and Charities. More information on the company's products and services may be found at: www.IncitePerformanceWear.com
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SOURCE Bahamas Development Corporation
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