A&E to acquire Gütermann to accelerate global gr - sportstextiles: Lea SportsTextiles

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A&E to acquire Gütermann to accelerate global growth

01/05/2014
A&E to acquire Gütermann to accelerate global growth
Specialist sewing thread manufacturer American & Efird (A&E) has entered into an agreement to acquire the industrial and consumer thread business of German manufacturer Gütermann. Financial terms of the transaction were not disclosed.

Gütermann has customers in apparel, shoes, leathergoods, workwear, home textiles and automotive, has its headquarters in Gutach, in Baden-Württemberg, and manufacturing facilities in Germany, Spain, Mexico and India. It employs approximately 1,000 people around the world.

Commenting on the deal, A&E’s chief executive, Fred Jackson, said: “Gütermann is a world-class company with a highly regarded brand name and an exceptional reputation among consumers and world-class European brands. We are very excited about the combination of A&E and Gütermann and believe it will accelerate our success and growth in the global marketplace.”

Completion of the transaction is expected in summer 2014, subject to shareholder approval and other customary closing conditions.


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