Delta Apparel Acquires Salt Life Brand

Delta Apparel Inc., Greenville, S.C., announced today that its wholly-owned subsidiary, To The Game LLC, has acquired substantially all of the assets of Salt Life Holdings LLC, including all of its domestic and international trademark rights in the Salt Life brand.

The purchase price for the transaction consists of $15 million in cash, two promissory notes in the aggregate principal amount of $22 million, and an additional payment contingent on certain performance targets being met with respect to sales of Salt Life products in calendar 2019. The Company financed the cash portion of the purchase price through an amendment to its asset-based secured revolving credit facility.