Doughty Gets a Kick Out of Umbro Europe –

London-based Doughty Hanson & Co. at press time had acquired Umbro Europe Holdings Ltd., a manfuacturer of soccer equipment and apparel, for approximately $145 million in cash.

According to a statement from Lawrence Ramaekers, chief executive of Umbro International and a principal at turnaround consulting firm Jay Alix & Associates the sale of Umbro Europe and the worldwide Umbro business, will allow for the repayment of the company’s creditors. Salomon Smith Barney assisted Umbro in exploring strategic alternatives.

With the sale of Umbro Europe, Greenville, S.C.-based Umbro International will change its name back to Stone Manufacturing Co. and will focus on its core business of manufacturing men’s underwear.

Umbro Europe Holdings, with subsidiaries in the U.K., Germany, France and Hong Kong, had 1998 revenue of approximately $400 million.