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The Taiwanese footwear manufacturing Group has been shortlisted in a bid to acquire a Hong Kong-based garment labels manufacturer.
Yue Yuen Holdings is reported to be in the final round of bidding to acquire Trimco International Holdings, majority owned by Swiss equity firm Partners Group Holding. Any deal is expected to add to the US$5.5 billion of announced apparel-related acquisitions in Asia this year, compared with US$9.6 billion during the same period in 2016, according to Bloomberg data.
Trimco, which makes clothing care labels, woven labels, hang tags and radio frequency identification tags used for inventory management, acquired Danish rival A-Tex A/S from Polaris Private Equity in 2015. It has production sites in China, India, Romania, Singapore, Thailand and the UK.
Yue Yuen Industrial Holdings, the world’s largest branded athletic and casual footwear manufacturer, posted a 6.7% increase in revenue to US$6,718.0 million in the first nine months of 2017, compared with the same period in 2016. Read more here.
Source: The Standard