Hein Gericke bought by U.S. firm

Clothing firm Hein Gericke is set to get a new owner by the end of the month. U.S. firm The Fairchild Corporation expects to close a deal with current owners Eurobike AG by October 31, 2003.

The change comes after Eurobike filed for insolvency in Germany on July 15 (see link on the right). The change should not lead to any noticeable differences for Hein Gericke’s U.K. customers said a spokesman for the company.

The Fairchild Corporation will also buy Hein Gericke’s sister companies PoloXpress and IFW for a total of £32.5 million. The U.S. firm currently specialises in the aerospace distribution business as well as owning and operating a shopping centre in New York.

Together Hein Gericke and PoloExpress are the market leader and largest retailer in Europe. Hein Gericke currently has 185 employees and operates 137 shops across Europe, with PoloExpress employing 94 employees with 84 shops. IFW is a designer for Harley-Davidson clothing as well as the U.S. importer for Hein Gericke clothing.

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