Rivers sells for $5m

Women's fashion retailer Specialty Fashion Group, whose portfolio includes Katies and Millers, will branch out into menswear for the first time after it agreed to buy the Rivers shoe and apparel brand for $5 million cash. The deal will add $180 million in revenue to Specialty for fiscal 2014 as well as 160 Rivers stores across Australia.

Women's fashion retailer Specialty Fashion Group, whose portfolio includes Katies and Millers, will branch out into menswear for the first time after it agreed to buy the Rivers shoe and apparel brand for $5 million cash. The deal will add $180 million in revenue to Specialty for fiscal 2014 as well as 160 Rivers stores across Australia.

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