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Samuelsohn finalizes purchase of Hickey Freeman
Rochester, N.Y. - After 114 years in Rochester, Hickey Freeman has finalized a deal Monday to be purchased by Samuelsohn.
Samuelsohn Limited, a premium menswear brand based in Montreal, will enter into a 40-year license agreement for the Hickey Freeman brand with Authentic Brands Group.
The company plans to bring new lines of business to the Rochester facility, preserving jobs, and potentially adding new ones.
Samuelsohn believes it can grow Hickey Freeman by as much as fifty percent in the next three to five years. The company would bring the Rochester plant back to full operating capacity.
"We are delighted to acquire Hickey Freeman," said Stephen Granovsky, who is CEO of Grano Retail Holdings, Samuelsohn and the future CEO of Hickey Freeman. "We consider the Rochester factory to be a diamond in the rough. It is very productive and we look forward to working with the Rochester team to grow the business significantly over the next three to five years."