Rivers sells for $5m

The Specialty Fashion Group recently acquired the Rivers shoe and apparel brand for $5 million in cash.

The acquisition of Rivers is expected to add $180 million in revenue to Specialty Fashion Group for fiscal 2014.

The acquisition includes 160 Rivers stores across Australia.

Yes, Specialty Fashion Group will branch out into menswear for the first time with the acquisition of the Rivers brand.

Specialty Fashion Group's portfolio includes brands such as Katies and Millers.

The acquisition is significant because it marks Specialty Fashion Group's entry into the menswear market and significantly boosts their revenue.

Specialty Fashion Group paid $5 million in cash for the Rivers brand.

The acquisition is expected to add $180 million in revenue for fiscal 2014, indicating a substantial financial impact.