Nacabi Trading Acquires Tehama
September 24, 2009
Nacabi Trading has acquired fashion apparel brand Tehama (asi/62274), and has announced its plan to bring Tehama’s distribution to specialty retailers on an international level. Financial terms of the deal, which were completed on September 15, were not revealed. “We were immediately drawn to Tehama’s philosophy, culture and story,” says Nacabi’s Steven Banks, who becomes the new CEO of Tehama. “Our vision is to evolve the foundation of the brand that was so appropriately established 13 years ago. We believe in the integrity of Tehama, its people and its quality garments.”
Gord Peters, who becomes Tehama’s new president, says Nacabi intends to take the brand back to its roots, citing qualities like natural beauty, honest quality, respect and personal responsibility. “We see endless opportunity for this brand to move through the upscale sportswear industry into a whole host of related lifestyle categories,” says Peters.
Banks has four decades of experience in the men’s and boy’s apparel industry in Canada, including spending four years as the vice president of sales for Christian Dior Chemise. Peters is currently president and owner of Gordon Mitchell Inc., which sells an upscale line of woven dress and sport shirts to stores throughout Canada and the U.S.
According to a spokesperson, Tehama will retain its sales force but will move its headquarters to Palm Beach Gardens, FL, with operating offices in Denver and Toronto. Deliveries are also on track for both the Fall 2009 and Spring 2010 collections. A press release put out by the company says the move will not affect its corporate market operations, and that “the company has been proceeding with business as usual.”
PG-USA Inc. – which manufactures sporting goods, apparel and accessories – will continue to hold a minority stake in Tehama. Nancy Haley, former CEO and co-founder of Tehama, will remain involved as the vice chair of the Advisory Committee. "Nacabi brings the capital, knowledge and experience to take the Tehama brand to new levels within the golf, resort and mainstream retail markets,” she says. “Nacabi and I have the same vision of maintaining the Tehama brand as an industry leader for many years to come."