Lakeland acquires Qualytextil
Protective apparel firm Lakeland Industries, Inc. has completed its acquisition of Brazilian protective apparel supplier Qualytextil S.A for approximately $13.3 million. For the year ended December 2007, sales were $10.3 million with gross margins reaching 50%.
Qualytextil, based in Salvador Bahia, was founded in 1999 and provides firemen's turnout gear, conductive and electric arc garments, chemical protective garments, occupational, multilayer and waterproof operational garments and aluminised and molten metal lines of protective clothing. With an in-house sales force of 20 employees and 28 outside sales representatives, it covers the entire country, selling directly to end users.
Christopher Ryan, CEO of Lakeland, said: "Qualytextil's obvious strengths in Brazil will be fortified by Lakeland's international expertise and broadening product development efforts. Collectively, we are well positioned to expand our business into other Latin American countries where there is increasing demand for industrial and workplace garments."
