Noni B expansion
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More details have emerged about Noni B’s acquisition of the poorly performing brands within the Specialty Fashion Group's portfolio. The acquired brands will need to be turned around fast, to avoid dragging the whole group’s EBIT below 2%. Noni B management's Stock Exchange presentation mentions $30 million as the expected synergy from the deal, but we recall Warren Buffet saying that acquisition synergies are usually illusionary.