US: Investors buy Denimatrix and ACG denim mill
AmTex designs and manufactures both denim fabric and denim apparel products
The Plains Cotton Cooperative Association (PCCA) has sold its denim manufacturing operation - which consists of the American Cotton Growers denim mill and Denimatrix facility - to two private equity firms.
Acquisition vehicle American Textile Holdings (AmTex) was set up by Monomoy Capital Partners and Kingsmoor to complete the deal for an undisclosed sum.
AmTex designs and manufactures both denim fabric and denim apparel products. The company converts raw cotton into denim fabric at the ACG textile mill in Littlefield, Texas and converts the fabric into finished jeans at the Denimatrix cut, sew and laundry operation located in Guatemala City, Guatemala.
The firm employs around 2,400 people at its two facilities and claims to run one the largest denim manufacturing operations in the western hemisphere.
"We are excited to create AmTex and purchase these impressive denim assets in Texas and Guatemala," said Robert Fowler, partner at Kingsmoor and newly-appointed AmTex CEO.
"With our partners at Monomoy, we will expand the company's capabilities and work with our customers to bring fashion-forward products to market through the most efficient supply chain in the industry."
The new company says it is poised to benefit from the migration of denim manufacturing from Asia back to the Americas. As a standalone business AmTex will also focus exclusively on innovative development, fabrication, marketing and sales in the denim sector.
An interactive databank with intelligence on the major apparel sourcing countries
- Why fast fashion isn't a case of one size fits all
- Sir Philip Green blamed for the collapse of BHS
- Brexit blow to global apparel industry confidence
- TPP tariff phase-out guides Vietnam sourcing plans
- Brexit Trade Focus – How a CANZ-UK FTA stacks up
- VF Corp cuts guidance as Q2 profit plunges 70%
- Vietnam mulls wage freeze to boost competitiveness
- US Q2 in brief - Carter's, Wolverine Worldwide
- Ethiopia opens flagship textile and apparel park
- Teijin launches polyester hook-and-loop fastener
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Southeast Asia & Central America strategic sourcing reviews package deal
- World Textile and Apparel Trade and Production Trends: the EU - June 2016
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis