The John Forsyth Shirt Company Ltd., a manufacturer of high-end dress shirts, purchased selected assets relating to the manufacture of men’s and boy’s woven shirts from Cluett, Peabody Canada Inc., and entered into Canadian licensing arrangements with respect to the Arrow brand and other brands owned by Cluett. As a result of the January 29, 2001 transaction, Forsyth becomes one of North America’s largest domestic men’s woven shirt manufacturers.
Forsyth was represented by a team from McMillan Binch, including John Clifford (corporate and finance), Alice-Anne Morlock (intellectual property), Lydia Wakulowsky (corporate) and Karen Liebesman (finance). Osler, Hoskin & Harcourt LLP acted for Cluett, with a team comprised of Andrew Aziz and Katty Habib (corporate) and Lee Muirhead (intellectual property). The purchase was financed by Congress Financial Corporation (Canada), represented by Jean Anderson, David Bish and Joseph Pasquariello of Goodmans LLP, and by CCFL Subordinated Debt Fund (II) Limited Partnership, represented by Robert Milnes and Joel Scoler of Smith Lyons LLP.