Bahamas Development Corporation 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.