UK: Seet Acquisition Paves Way For Growth At Cosalt
Protective and corporatewear company Cosalt has acquired its business rival Seet Plc in a cash offer that values the business at £5.7m.
The acquisition exploits the synergies between the two organisations, and should enable Cosalt to explore the growth potential of its clothing businesses, expand into new markets, and achieve efficiencies in sourcing and procurement by increasing the proportion of goods made overseas. The company currently designs, manufactures and distributes workwear, career-wear, corporatewear and high visibility protective clothing under the brand names of Cosalt Workwear and Cosalt Clothing Solutions.
Like Cosalt, Seet is a design-led distributor of specialist clothing with a mix of UK manufacture and overseas sourcing. Its specialist and protective clothing division - Ballyclare Special Products - complements Cosalt's existing workwear business and brings with it a new customer base and technically skilled workforce.
Also part of the deal is Seet's schoolwear and clothing division. Schoolwear is produced under the Beau Brummel, Banner, Distinctive and Johns-Craft brands; while children's, men's and ladies' fashion wear brands such as Little Darlings, Abella, Sting, Michael De Leon, Pegasus, Shirtmaster, Bannerman, Rivoli and Rapport are distributed through department stores and independent retailers.
Commenting on the offer, Gerry Camamile, chairman of Cosalt said: "We are pleased to have reached agreement with Seet to combine two businesses with good reputations for quality and service. We believe that Seet represents an excellent addition to our industrial services division which presents opportunities for both growth and cost savings."
- Will new Vietnam wage hinder competitiveness?
- Digitisation to drive new apparel-making models
- Fashion fit for the future – strategies for speed
- Under Armour Lighthouse will disrupt production
- How TAL Apparel is staying ahead of the game
- Gap to shutter all UK Banana Republic stores
- MAS Holdings shares commitment to sustainability
- M&S "unappealing" clothing a barrier to growth
- Reebok Liquid Factory reinvents shoe production
- Bangladesh tops China as lead cotton importer
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Apparel (GLOBAL) - Industry Report
- Global Sports and Fitness Wear Market 2016-2020