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Samuelsohn announced that they have agreed to acquire all tangible assets of Hickey Freeman. The deal will include the factory and the 40 year license agreement for the Hickey Freeman brand owner, Authentic Brands Group. Part of the transaction involves the expansion of roles for the executive department for the oversight and development of the Hickey Freeman line.

"For 90 years Samuelsohn has been known and respected in the industry for producing the best quality suits in Canada. Likewise, Hickey Freeman has built a business and reputation over the last century producing the very best suits in the United States," said Stephen Granovsky, CEO of Grano Retail Holdings, the owner of Samuelsohn. "Owning both of these best-in-class menswear businesses will be a dream come true."

"Hickey Freeman has great brand value and long term retail relationships, as well as an extremely productive factory and talented workforce," adds Arnold Brant Silverstone. "We believe that, working with Authentic Brands Group, we can bring the same creativity, discipline and energy to Hickey Freeman that we have brought to Samuelsohn over the last three years."

"We intend, first, to add to the stability, and second to drive growth," said Lawrence Pollack, Vice Chairman of both Grano and Samuelsohn. "We estimate that Hickey Freeman can grow by as much as fifty percent in the next three to five years. The Rochester factory is a diamond in the rough."

"We are very proud to own Hickey Freeman and we are extremely excited about the growth opportunities that the Samuelsohn/Grano team brings to the brand," said Jamie Salter, CEO of Authentic Brands Group.

"We look forward to working with a progressive company such as Samuelsohn/Grano and we are thrilled about the prospects in the future," added Nick Woodhouse, President of Authentic Brands Group.

"Workers United, SEIU, and its members are very pleased with this transaction. We have excellent working relationships with Samuelsohn in Montreal and with W Diamond in Chicago and the Union looks forward to a bright future of stability and expansion of jobs in Rochester," said Noel Beasley, President of Workers United.

"I will always fight to strengthen and grow Hickey Freeman in Rochester and have been pleased to stand with the company and its workers so that this day could come," said Senator Schumer. "This union with Samuelsohn buttons together two of the finest North American suit makers and will grow jobs and bring new work to Hickey Freeman's Rochester workforce in a way that will stabilize and strengthen this storied Rochester institution for decades to come."

"The entire W Diamond Team is proud to pass along the Hickey Freeman tradition of excellence to the Samuelsohn team and I personally look forward to supporting their efforts any way I can," said Doug Williams, CEO of W Diamond Group.