Invista deal is reportedly worth more than $2 billion
08/11/2017
The deal was announced at the end of October. It includes a number of brands, most notably the Lycra and Coolmax fibre brands.
The value of the transaction has not been disclosed but Bloomberg has quoted “people with knowledge of the matter”, who have revealed it is worth more than $2 billion. Neither party has confirmed this report.
As well as the aforementioned brands, Shandong Ruyi will acquire the global manufacturing assets, research and development centres and sales offices of all brands in the apparel and advanced textiles division. Around 3,000 employees will also move between the companies.
Invista’s apparel and advanced textiles business does not include the Cordura brand. It is part of the company’s performance solutions business.
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