Pursuits
Li & Fung Agrees to Acquire Lornamead for $190 Million
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Li & Fung Ltd., the world’s largest supplier of clothes and toys to retailers, agreed to acquire personal-care brand owner Lornamead Acquisition Ltd. for about $190 million.
Lornamead sells more than 20 brands, including “traditional and heritage” U.S., U.K. and German lines such as Finesse, CD, Aqua Net and Lypsyl, Li & Fung said in a statement on its website yesterday. Lornamead’s sales in the year ended March 31 were about $155 million, Li & Fung said.