Category: GARMENTS
Country: South Korea
Region: Asia Pacific
Tegra's headquarters will be moved to Seoul; it operates five textile and garment firms across the Americas
By Mi-Kyoung Lee
9th April, 2024 (Gmt+09:00)
1 Min read
South Korean textile maker and supplier Sae-A Trading Co. said on Tuesday it has signed a definitive agreement to acquire US sportswear maker Tegra from private equity giant Apollo Global Management Inc.
Sae-A Trading will finalize the transaction this month, according to sources familiar with the matter. Financial details of the deal were not disclosed.
Headquartered in Atlanta, Georgia, Tegra operates five entities across the Americas. Among the subsidiaries are sports uniform manufacturer Fjord LLC and custom-printed apparel maker ArtFX in the US, garment supplier Southern Apparel Contractors S.A. in Honduras and Decotex International LTDA, a textile and fabric maker in El Salvador.
Sae-A Trading is planning to move Tegra’s headquarters to Seoul.
This acquisition enables Sae-A Trading to further its growth trajectory while ensuring continuous and consistent delivery of world-class products for its customers, said Kim Woong-ki, the chairman of Global Sae-A Group.
The scale, operational bases, product development capabilities and know-how being established with this combination will create significant opportunities and advantages for Sae-A's customers and suppliers, he added.
Established in 1986, Sae-A Trading produces textile and apparel garments and supplies to the US and Europe. The company operates a broad range of businesses such as yarn spinning, fabric knitting and dyeing, graphic printing, garment washing and sewing.
Jihyun Kim edited this article.
Courtesy: Kedglobal.com
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