secwatch.observer — SEC 8-K summary
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Issuer:     LAKELAND INDUSTRIES INC (LAKE)
CIK:        0000798081
Form:       8-K
Filed at:   2024-02-05T23:59:59+00:00
Accession:  0001654954-24-001300
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lakeland acquires Jolly Scarpe footwear for $9.3M; expects $14-16M annual revenue addition
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- Acquired Italy/Romania-based Jolly Scarpe, a designer/manufacturer of professional footwear for fire, military, police, and rescue markets.
- Purchase price of CHF 8M (approx. $9.3M) in cash, funded through Lakeland's line of credit; subject to post-closing adjustments.
- Expected to add $14-$16M in sales revenue this fiscal year and be immediately accretive to Lakeland.
- Jolly's existing staff and management remain; product portfolio complements Lakeland's fire service business, enabling head-to-toe offering.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798081/000165495424001300/0001654954-24-001300-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798081/000165495424001300/lake_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-001300

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer