Australia-based Charles Parsons & Co Pty Ltd has agreed to acquire Grange Jacquard from the receivers and managers of Yarraville Textiles Pty Ltd, part of the Bradmill Undare Group.

The deal, due to be completed on November 1, is the latest in a series of acquisitions which includes Austrim Textiles' Stock Service business and is aimed at removing uncertainty within the market for supply of knitted fabrics in Australia.

"The combination of fabric ranges from Grange and Austrim provides a full service offer to knitted garment makers, supported by the full resources of Charles Parsons " said Jim Liaskos, managing director of Charles Parsons & Co.

"In addition to providing on-going supply to the joint customer base, we have a unique opportunity to combine the best products from the top two knitted fabrics companies in Australia.

He added: "We will continue to manufacture all these products in Australia. The supply chain we have established will provide an extremely competitive offer based on excellent quality, quick supply and the highest level of service, backed up with a sales and service team comprised of key employees from both Austrim Textiles and Grange Jacquard to ensure 'business as usual' for our customers".

Charles Parsons will expand its stock service supply of knitted fabrics to include Brisbane, Melbourne and Perth and service its make-to-order customers in each state through its operations in Melbourne.

"Charles Parsons extensive network of warehouses in every mainland state of Australia, plus New Zealand and Fiji will give us the service edge for both stock and make-to-order fabrics," Mr. Liaskos concluded.