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Lakeland Industries Enhances Its Global Fire Protection Business with the Acquisition of Eagle Technical Products

HUNTSVILLE, AL / ACCESSWIRE / December 5, 2022 / Leading global protective apparel manufacturer Lakeland Industries, Inc. (NASDAQ:LAKE) (the "Company" or "Lakeland") announced today the acquisition of UK-based Eagle Technical Products Limited …

HUNTSVILLE, AL / ACCESSWIRE / December 5, 2022 / Leading global protective apparel manufacturer Lakeland Industries, Inc. (NASDAQ:LAKE) (the "Company" or "Lakeland") announced today the acquisition of UK-based Eagle Technical Products Limited ("Eagle") in an all-cash transaction valued at approximately $10.8 million subject to post-closing adjustments and potential future earnout payments. The acquisition enhances Lakeland's product portfolio, particularly within fire service protective clothing and expands its sales presence in the Middle East and Europe.

Headquartered in Manchester, UK, Eagle is a leading designer and provider of protective apparel to the fire and industrial sectors. Eagle provides differentiated product offerings through its innovative and technical solutions.

Charles D. Roberson, President and Chief Executive Officer of Lakeland Industries, said, "This acquisition allows Lakeland to significantly expand its geographic reach in the Middle East, as well as to add important exposure in Asian and European regions. Importantly, sales in these regions for Eagle are accelerating rapidly through its focus on customized firefighting applications across a number of key industries, which will enhance and broaden Lakeland's own higher value product lines for these markets and provide us with several new meaningful sales channels. We are thrilled to bring Eagle under the Lakeland umbrella to accelerate the growth of the business as we continue to focus on high-value, strategic products and make progress on our three-to-five-year targets."

Allen Dillard, Lakeland Chief Operating and Financial Officer, added, "I am very excited to announce the acquisition of Eagle in what is an exciting time for the Company. From an operations standpoint, this combination further solidifies Lakeland's position in high value, high growth markets and diversifies our product offerings internationally. We expect this acquisition to be accretive to Lakeland's top and bottom-line results within the first year and we look forward to leveraging the Eagle platform and maintaining our operational momentum as we close out the fiscal year and look to fiscal year 2024."

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Lakeland Industries Enhances Its Global Fire Protection Business with the Acquisition of Eagle Technical Products HUNTSVILLE, AL / ACCESSWIRE / December 5, 2022 / Leading global protective apparel manufacturer Lakeland Industries, Inc. (NASDAQ:LAKE) (the "Company" or "Lakeland") announced today the acquisition of UK-based Eagle Technical Products Limited …

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