St. Louis-based Interco Inc. said it has...
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St. Louis-based Interco Inc. said it has completed the sale of its Londontown Corp. subsidiary to Eldersberg Acquisition Corp. for $178 million in cash. Eldersberg Acquisition is a group organized by senior management personnel of Londontown. Londontown, based in Eldersberg, Md., manufactures London Fog rainwear. The sale was part of a defensive restructuring program announced earlier this year by Interco to contest a hostile takeover. Earlier, Interco turned down a $190-million cash offer for Londontown from Burlington Coat Factory Warehouse Inc.
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