Perry Ellis To Sell The Intellectual Property Of C&C California To ACH C&C LLC

(RTTNews) - Perry Ellis International (PERY) said that it is has reached a definitive agreement to sell the intellectual property of its C&C California brand to ACH C&C LLC, a newly created venture by members of ACI Licensing. Terms of the deal were not disclosed.

Under the purchase agreement, Perry Ellis will work with the buyer and its affiliates to ensure a smooth transition.

Oscar Feldenkreis, President and COO of PEI, said, "The sale of the iconic C&C California brand marks another step in our effort to ensure that assets within the Perry Ellis International portfolio are core to our strategy and are able to generate enhanced shareholder value."