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Canadian investment company Counsel Corp. has acquired a minority stake in Apparel Holdings Group, a New York company that designs, manufactures and sells clothing. Counsel said yesterday it has bought 28 per cent of Apparel Holdings, which sells clothing under the Caribbean Joe, Periscope, and Cupid's Cup banners, as well as other private labels. Financial terms were not revealed. The acquisition also includes AHG Licensing Inc., a subsidiary that owns and manages strategic brand licensing agreements in clothing and other markets. The New York company will operate as CJ Apparel Group and will he headed by Jeffrey Levy, a veteran executive who has worked in the clothing industry at companies such as Jones Apparel Group and Kellwood. CXS (TSX) rose 6 cents to 76 cents. CP

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