Berkshire Hathaway acquired Fruit of the Loom (basic apparel business) for $835 million, a transaction completed in April 2002, structured as Purchase of substantially all business operations out of Chapter 11 via a bankruptcy-court-approved plan of reorganization and auction process..
Fruit of the Loom (basic apparel business) operates in Consumer products (basic apparel), is based in United States and worldwide (headquartered in Bowling Green, Kentucky). Berkshire Hathaway agreed to acquire substantially all of Fruit of the Loom's basic apparel business operations out of Chapter 11 bankruptcy for $835 million in cash, subject to adjustments and assumption of certain liabilities. Fruit of the Loom is a leading vertically integrated basic-apparel company and one of the world's largest makers of underwear, printable T-shirts and fleece, selling under the FRUIT OF THE LOOM and BVD brands. The acquisition completed its emergence from bankruptcy on April 30, 2002.
Attracted by the strength of the brand and the managerial talent of John Holland; completes Fruit of the Loom's operational turnaround and exit from bankruptcy.
Advisory firms were not disclosed for this transaction.