Delta Apparel to amend asset-based revolver to fund Fun-Tees purchase

By Sara Rosenberg

New York, Aug. 18 - Delta Apparel Inc. plans on amending its asset-based secured revolving credit facility to finance the acquisition of Fun-Tees, Inc. for about $20 million in cash, company officials said in a conference call Friday.

The acquisition is expected to close on or around Oct. 2, subject to the satisfaction of various closing conditions.

Delta Apparel is a Duluth, Ga.-based marketer, designer, manufacturer and distributor of high quality branded and private label apparel. Fun-Tees is a Concord, N.C.-based designer, manufacturer, marketer and seller of private label custom knit T-shirts primarily to major branded sportswear companies.

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