Another acquisition for textile group Shandong R - sportstextiles: Lea SportsTextiles

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Another acquisition for textile group Shandong Ruyi

13/11/2017
Chinese textile group Shandong Ruyi has purchased a majority stake in Hong Kong-based apparel retailer Trinity. It has paid HK$2.2 billion ($284.62 million) for a 51.38% share of the company.

Prior to this deal, the majority shareholder of Trinity was Fung Holding, owner of Li & Fung, one of the world’s largest sourcing groups. 

Shandong Ruyi will continue Trinity’s existing business and does not intend to dispose of any assets, according to a filing to the Hong Kong stock exchange. 

Shandong Ruyi made the headlines at the end of October when it agreed to purchase the apparel and advanced textiles (A&AT) business of polymer and fibre manufacturer Invista. The deal, which is reportedly worth more than $2 billion, includes a number of brands, most notably the Lycra and Coolmax fibre brands.

Related stories:

Asian tie-up promises bright future for Africa’s apparel industry 04/04/2019
Praise for Invista from Chinese textile partner 06/03/2018
Shandong Ruyi eyes US market with new acquisition 24/11/2017
Invista deal is reportedly worth more than $2 billion 08/11/2017
Invista agrees sale of advanced textiles business 30/10/2017
China: Automation helps cotton textile giant to grow 16/08/2017

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