Apparel giant VF Corporation (vfc.com) and Mo Industries Holdings, Inc. have announced VF’s acquisition of one-third of the capital stock of Mo Industries, owner of the Splendid (splendid.com) and Ella Moss (ellamoss.com) women's contemporary sportswear brands. The agreement provides a mechanism whereby VF may acquire the balance of the capital stock in the early part of 2009.

Mo Industries is headquartered in Los Angeles, California and is owned by founder Moise Emquies, who serves as CEO and president, and Summit Partners, a private equity and venture capital firm. The Splendid and Ella Moss brands offer premium products focused on contemporary knit tops.

Photo: A look from Ella Moss