Mount Airy-based Renfro Brands is bolstering its portfolio of socks and legwear with the $15.3 million cash acquisition of apparel maker MJ Soffe and its “silkies” running shorts originally worn by U.S. servicemen.
Renfro bought Fayetteville’s Soffe from Delta Apparel, a Duluth, Georgia-based apparel maker liquidating its brands following its Chapter 11 bankruptcy file in June.
Renfro, which is privately held, plans to retain several Soffe employees with responsibilities for marketing, sales, product development and planning. The new owner is still determining how to shift manufacturing, but will “continue to grow the Soffe brand and product offerings,” Senior Vice President and Chief Brand Officer Kadian Langais said in an email earlier today.
Founded in 1921, Renfro makes numerous brands of socks and legwear including Polo Ralph Lauren, Dr. Scholl’s and Jeep.
Soffe’s facilities in North Carolina were in jeopardy this summer, according to Delta notices to the state Department of Commerce. If it were unable to consummate a sale, Delta said it would cut 156 jobs in Cumberland County, 46 jobs in Robeson County and 22 jobs in Cabarrus County by Aug. 29, the Fayetteville Observer reported in July.
Delta acquired Soffe in 2003. Founded in Fayetteville in 1946, the family-owned business started by distributing garments to military exchanges and college bookstores. Originally worn by U.S. servicemen, Soffe ranger panties, or silkies, gained a following among astarted by distributing garments to military exchanges and college bookstores. Originally worn by U.S. servicemen, Soffe ranger panties, or silkies, gained a following among a broader audience of men for exercise.
Similarly, Soffe’s cheerleader shorts have expanded into yoga, dance and other activities for women. Intensity by Soffe sells to sports teams