It was announced on Wednesday that the Warnaco group has been acquired by the PVH Corporation. The international trade deal is expected to bring together all of the Calvin Klein branded apparel companies in one corporation.
Warnaco has operated a number of clothing manufacturing and distribution centers in the Altoona area including a current facility on Old Sixth Avenue near Duncansville. There is no word yet on how the change in ownership could affect local jobs.
PVH Corp. the owner of the Tommy Hilfiger brand, agreed to buy Warnaco Group Inc. in a $2.9 billion transaction. PVH Chief Executive Officer Emanuel Chirico said last year that he would "aggressively" seek deals to turn the company into the world's largest apparel business, while boosting international sales and profit margins that trail competitors such as VF Corp. and Ralph Lauren Corp. More than half of Warnaco's 2011 sales came from outside the U.S.