Mad Engine acquires Mighty Fine
Southern California-based Mad Engine has completed the acquisition of juniors and kids brand Mighty Fine, bringing the total amount of apparel company acquisitions for Mad Engine to four in the past year.
Mighty Fine joins acquisitions of Mad Engine's Canadian affiliate, Xtreme Worldwide, Inc., Lifted Research Group (LRG) and Neff Headwear.
Danish Gajiani, CEO of Mad Engine, explains, "This acquisition comes at a critical time as the retail landscape is constantly changing...", explaining that acquiring Mighty Fine will "allow Mad Engine to contend in the Juniors apparel space" which demands a quick turnaround to be competitive.
Mighty Fine was founded in 1997. Its business is based in Downtown LA's Garment District where it is a wholesale manufacturer for kids and juniors to specialty and department store channels. Like Mad Engine, Mighty Fine also operates a large licensing business.
Patty Timsawat, co-founder of Mighty Fine, will stay on through the acquisition to focus on business development. The two other co-founders, Guy and Stacy Brand, are leaving the company.
Departing co-founder Guy Brand said Mad Engine is aligned with Mighty Fine's 20-year foundation in the market. While Mighty Fine will continue to operate as a separate entity, the acquisition will integrate Mad Engine's back-end infrastructure into the company's operations by the end of this year.
Mad Engine was founded in 1987. It is a leading wholesaler of licensed, branded and private-label apparel, holding licenses with brands including Marvel, Disney, Star Wars and Nickelodeon.
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