“Fox River Mills is an incredible American brand that has been forged over a century and has been steadfast in its commitment to quality and technical performance,” said Jordan Bastable, a partner at LongWater. “We are thrilled to have the opportunity to provide operational support and ensure the brand is around for another 100+ years.”
Laura Johnson, CEO of Standard Merchandising Company, said: “Fox River Mills has the unique blend of heritage and innovation as hallmarks of the brand. We value the rich history and deep expertise of the Fox River team and look forward to developing careers and commerce in Osage and the surrounding communities.”
Source: LongWater Opportunities
Posted November 16, 2016
OSAGE, Iowa – LongWater Opportunities, an operationally focused private equity firm headquartered in Dallas, Texas, announced that it has acquired Fox River Mills, Inc., a 116-year-old sock manufacturer, from the Lessard family, which has owned and managed the business since 1975.
Fox River is a producer of high-quality knitted, technical socks and handwear for the outdoor, athletic and casual markets. Founded in 1900, the company is the longest, continuously running hosiery mill in the U.S. and manufactures all of its products in its 240,000 square foot, world-class facility here.
Fox River manufactures socks and handwear products marketed under the Fox River brand name and maintains private-label programs for many major brands and retailers worldwide. The company is also known for several trademarks, including Wick Dry®, Scentry™ and the Original Rockford Red Heel® Monkey sock, which is synonymous with the nostalgic children’s toy.
“We knew it was important to find a partner that believed in U.S. manufacturing and investing in the people and the community,” said Fox River President and co-owner John Lessard. “We believe we’ve found that in LongWater. We’re excited about the future of Fox River Mills.”
Brenda Dryer, executive director for the Mitchell Country (Iowa) Economic Development Commission, added: “We have had an outstanding working relationship with the Lessard family. We look forward to the opportunity to work with LongWater Opportunities, and stand ready to be of assistance during this time of transition.”
Fox River, the fourth investment in LongWater’s second equity fund, will be a division of Standard Merchandising Company, a Camden, N.J.-based domestic manufacturer of socks and hosiery products acquired by LongWater in December 2015.
Fox River Mills acquired by private equity firm
