Perry Ellis buying two Liz Claiborne brands

(Adds outlook)

NEW YORK, Jan 8 (Reuters) - Perry Ellis International Inc (PERY.O) said on Tuesday that it would buy the C&C California and Laundry brands from Liz Claiborne Inc (LIZ.N) for $37 million.

Perry Ellis expects the deal to close by Feb. 4 and have no impact on its 2008 results. In 2009, the deal should add about $60 million in revenue and 8 cents to 10 cents per share in profit, it said.

Perry Ellis, which already owns brands such as Perry Ellis, Jantzen and Cubavera, said it will combine the operations of C&C and Laundry with those of its Original Penguin brand to create a new contemporary women's apparel business, whose revenue it sees increasing at a double-digit annual rate over the next five years.

(Reporting by Martinne Geller; Editing by John Wallace)

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