January 31, 2011
R.G. BARRY CORPORATION PURCHASES FOOT PETALS
Posted by Kimberly Porrazzo
January 28, 2011 -- Pickerington, OH (Wobwire.com) --
Accessory footwear and slipper marketer R.G. Barry
Corporation (Nasdaq:DFZ) today announced that it
has completed the purchase of substantially all of the
assets of Foot Petals, LLC., a Long Beach, California-
based developer and marketer of premium insoles and
products that offer comfort solutions to many commo
n footwear-related problems. R.G. Barry will operate
Foot Petals as a subsidiary.
“As the innovator and leader of premium insoles, Foot Petals is an excellent
addition to our brand portfolio,” said R.G. Barry Corporation President
and Chief Executive Officer Greg Tunney. “It is a growing business that
generates very healthy returns. Its management team, led by Tina Aldatz, is
young, aggressive and has done an amazing job building a successful,
category-leading business in less than a decade.
“Our product lines, customer bases and core values have numerous
synergies. For example, Foot Petals’ products are now sold through key top-
tier retailers like Nordstrom and Dillard’s.The brand has a very bright future
as an integral part of our long-range vision and strategic growth plan.”
Ms. Aldatz, Foot Petals founder and President, added, “This is a pivotal
moment in the evolution of the Foot Petals brand. We are incredibly excited
by the opportunities for our business to grow as part of the R.G. Barry
organization. Our companies share a common heritage and similar visions.
Both were founded by women who saw unfulfilled comfort needs in the
marketplace and developed creative solutions. Our companies have grown
from those simple ideas into the recognized leaders in their respective fields.
Most significantly, both companies continue to innovate and lead.”
“The purchase of Foot Petals for $14 million cash is consistent with our
acquisition filter,” said R.G. Barry Corporation Senior Vice President Finance
and Chief Financial Officer José Ibarra. "The business generates positive
cash flow and will be immediately accretive to earnings. We believe the Foot
Petals brand will grow into an important component of our total business.”
R.G. Barry senior management will discuss the Foot Petals purchase during
its regular quarterly earnings teleconference/webcast scheduled for 9 a.m.
EST on Tuesday, February 8. To listen via the Internet, log on to <http://www.
videonewswire.com/event.asp?id=75820>.
The conference call also will be available at 800.860.2442 (U.S.) and +1.
412.858.4600 (international) until five minutes before starting time.
Financo, Inc. served R.G. Barry Corporation as a financial advisor for the
transaction.
About Foot Petals
Foot Petals was founded in 2001 when Aldatz noticed there was a void in the
marketplace for comfortable insoles for stylish high heel shoes. Her quest for
comfort culminated in the original Foot Petals designer shoe cushion.
Today, the Company’s premium solution-orientated foot care and comfort
offerings include more than 20 unique products, accessories and kits that
provide women and men with stylish, yet invisible solutions to common
problems caused by wearing shoes. Foot Petals products are available at
fine retailers, including Nordstrom, Dillard’s and Target; on line at Zappos.
com, WeddingChannel.com and Nordstrom.com; and via Home Shopping
Network. All Foot Petals cushions are made in the USA and carry the Seal of
Acceptance of the American Podiatric Medical Association.
Foot Petals has been recognized by Inc. and Entrepreneur magazines as
one of America’s fastest growing private companies.
To learn more about the Foot Petals story, go to footpetals.com.
About R.G. Barry Corporation
R.G. Barry Corporation is a leading developer and marketer of fashion
accessory products. The Company’s diverse brand portfolio capitalizes on a
unique understanding of the consumer and our long history of innovation
and design excellence. We consistently deliver trend-right products that fit
the evolving consumers’ personal sense of style.
Our flagship Dearfoams brand, the original foam-cushioned slipper
introduced in 1947, our Terrasoles, Foot Petals and other licensed and
private label trademarks are sold through national chain department stores,
discount stores, warehouse clubs, independent and specialty retailers,
boutiques, catalogs and online retailers. Our collaborative relationships with
retailing partners, category management expertise and reputation for stellar
customer service enable us to occupy significant share positions in the
categories in which we compete.
Visit us online at rgbarry.com to learn more about our business.
Forward-Looking Statements
Some of the disclosures in this news release contain forward-looking statements that involve substantial
risks and uncertainties. You can identify these statements by forward-looking words such as “may,”
“expect,” “could,” “should,” “anticipate,” “believe,” “estimate,” or words with similar meanings.
Any statements that refer to projections of our future performance, anticipated trends in our business
and other characterizations of future events or circumstances are forward-looking statements. These
statements, which are forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995, are based upon our current plans and strategies and reflect our current
assessment of the risks and uncertainties related to our business. These risks could include, but are not
limited to the following: the successful integration of acquisitions into our business model; our
continuing ability to source products from third parties located outside North America; competitive cost
pressures; the loss of retailer customers to competitors, consolidations, bankruptcies or liquidations;
shifts in consumer preferences; the impact of the global financial crisis and general economic
conditions on consumer spending; inaccurate forecasting of consumer demand; difficulties liquidating
excess inventory; disruption of our supply chain or distribution networks; and our investment of
excess cash in certificates of deposit and other variable rate demand note securities. The risk factors
described in this news release and in our filings with the Securities and Exchange Commission, in
particular “Item 1A. Risk Factors” of Part I of our Annual Report on Form 10-K for the fiscal year ended
July 3, 2010, give examples of the types of uncertainties that may cause actual performance to differ
materially from the expectations we describe in our forward looking statements. If these events occur,
they could have a material adverse effect on our business, operating results and financial condition.
Forward-looking statements speak only as of the date on which they are made, and we undertake no
obligation to update any forward-looking statement to reflect circumstances or events that occur after
the date on which the statement is made to reflect unanticipated events, except as required by
applicable law. Any further disclosures in our filings with the SEC should also be considered.
Contact:
Roy Youst, Director Investor & Corp. Communications
614.729.7275
ryoust@rgbarry.com
José G. Ibarra, Senior Vice President Finance/CFO
614.729.7270
jibarra @rgbarry.com
R.G. BARRY CORPORATION PURCHASES FOOT PETALS
Posted by Kimberly Porrazzo
January 28, 2011 -- Pickerington, OH (Wobwire.com) --
Accessory footwear and slipper marketer R.G. Barry
Corporation (Nasdaq:DFZ) today announced that it
has completed the purchase of substantially all of the
assets of Foot Petals, LLC., a Long Beach, California-
based developer and marketer of premium insoles and
products that offer comfort solutions to many commo
n footwear-related problems. R.G. Barry will operate
Foot Petals as a subsidiary.
“As the innovator and leader of premium insoles, Foot Petals is an excellent
addition to our brand portfolio,” said R.G. Barry Corporation President
and Chief Executive Officer Greg Tunney. “It is a growing business that
generates very healthy returns. Its management team, led by Tina Aldatz, is
young, aggressive and has done an amazing job building a successful,
category-leading business in less than a decade.
“Our product lines, customer bases and core values have numerous
synergies. For example, Foot Petals’ products are now sold through key top-
tier retailers like Nordstrom and Dillard’s.The brand has a very bright future
as an integral part of our long-range vision and strategic growth plan.”
Ms. Aldatz, Foot Petals founder and President, added, “This is a pivotal
moment in the evolution of the Foot Petals brand. We are incredibly excited
by the opportunities for our business to grow as part of the R.G. Barry
organization. Our companies share a common heritage and similar visions.
Both were founded by women who saw unfulfilled comfort needs in the
marketplace and developed creative solutions. Our companies have grown
from those simple ideas into the recognized leaders in their respective fields.
Most significantly, both companies continue to innovate and lead.”
“The purchase of Foot Petals for $14 million cash is consistent with our
acquisition filter,” said R.G. Barry Corporation Senior Vice President Finance
and Chief Financial Officer José Ibarra. "The business generates positive
cash flow and will be immediately accretive to earnings. We believe the Foot
Petals brand will grow into an important component of our total business.”
R.G. Barry senior management will discuss the Foot Petals purchase during
its regular quarterly earnings teleconference/webcast scheduled for 9 a.m.
EST on Tuesday, February 8. To listen via the Internet, log on to <http://www.
videonewswire.com/event.asp?id=75820>.
The conference call also will be available at 800.860.2442 (U.S.) and +1.
412.858.4600 (international) until five minutes before starting time.
Financo, Inc. served R.G. Barry Corporation as a financial advisor for the
transaction.
About Foot Petals
Foot Petals was founded in 2001 when Aldatz noticed there was a void in the
marketplace for comfortable insoles for stylish high heel shoes. Her quest for
comfort culminated in the original Foot Petals designer shoe cushion.
Today, the Company’s premium solution-orientated foot care and comfort
offerings include more than 20 unique products, accessories and kits that
provide women and men with stylish, yet invisible solutions to common
problems caused by wearing shoes. Foot Petals products are available at
fine retailers, including Nordstrom, Dillard’s and Target; on line at Zappos.
com, WeddingChannel.com and Nordstrom.com; and via Home Shopping
Network. All Foot Petals cushions are made in the USA and carry the Seal of
Acceptance of the American Podiatric Medical Association.
Foot Petals has been recognized by Inc. and Entrepreneur magazines as
one of America’s fastest growing private companies.
To learn more about the Foot Petals story, go to footpetals.com.
About R.G. Barry Corporation
R.G. Barry Corporation is a leading developer and marketer of fashion
accessory products. The Company’s diverse brand portfolio capitalizes on a
unique understanding of the consumer and our long history of innovation
and design excellence. We consistently deliver trend-right products that fit
the evolving consumers’ personal sense of style.
Our flagship Dearfoams brand, the original foam-cushioned slipper
introduced in 1947, our Terrasoles, Foot Petals and other licensed and
private label trademarks are sold through national chain department stores,
discount stores, warehouse clubs, independent and specialty retailers,
boutiques, catalogs and online retailers. Our collaborative relationships with
retailing partners, category management expertise and reputation for stellar
customer service enable us to occupy significant share positions in the
categories in which we compete.
Visit us online at rgbarry.com to learn more about our business.
Forward-Looking Statements
Some of the disclosures in this news release contain forward-looking statements that involve substantial
risks and uncertainties. You can identify these statements by forward-looking words such as “may,”
“expect,” “could,” “should,” “anticipate,” “believe,” “estimate,” or words with similar meanings.
Any statements that refer to projections of our future performance, anticipated trends in our business
and other characterizations of future events or circumstances are forward-looking statements. These
statements, which are forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995, are based upon our current plans and strategies and reflect our current
assessment of the risks and uncertainties related to our business. These risks could include, but are not
limited to the following: the successful integration of acquisitions into our business model; our
continuing ability to source products from third parties located outside North America; competitive cost
pressures; the loss of retailer customers to competitors, consolidations, bankruptcies or liquidations;
shifts in consumer preferences; the impact of the global financial crisis and general economic
conditions on consumer spending; inaccurate forecasting of consumer demand; difficulties liquidating
excess inventory; disruption of our supply chain or distribution networks; and our investment of
excess cash in certificates of deposit and other variable rate demand note securities. The risk factors
described in this news release and in our filings with the Securities and Exchange Commission, in
particular “Item 1A. Risk Factors” of Part I of our Annual Report on Form 10-K for the fiscal year ended
July 3, 2010, give examples of the types of uncertainties that may cause actual performance to differ
materially from the expectations we describe in our forward looking statements. If these events occur,
they could have a material adverse effect on our business, operating results and financial condition.
Forward-looking statements speak only as of the date on which they are made, and we undertake no
obligation to update any forward-looking statement to reflect circumstances or events that occur after
the date on which the statement is made to reflect unanticipated events, except as required by
applicable law. Any further disclosures in our filings with the SEC should also be considered.
Contact:
Roy Youst, Director Investor & Corp. Communications
614.729.7275
ryoust@rgbarry.com
José G. Ibarra, Senior Vice President Finance/CFO
614.729.7270
jibarra @rgbarry.com
The newswire for women-owned business
| Copyright 2011 Wobwire.com All rights reserved. P.O. Box. 663 Lake Forest, CA 92609 949.757.1404, Ext.237 |
Tina Aldatz founded
Foot Petals in 2001
Foot Petals in 2001
