UK: Quantum Clothing acquired by Japanese trader Itochu
By Katie Smith | 6 July 2012
Manufacturer Quantum Clothing Group, which specialises in men's wear, lingerie, hosiery and intimate apparel, has been acquired by Japanese conglomerate Itochu Corp for an undisclosed sum.
Quantum Clothing Group, which is a supplier to Marks & Spencer, will continue to be run out of the UK. Nigel Lugg, who is responsible for some of Itochu's apparel interests, will become chairman and group chief executive. The existing management team will remain in place.
"We are delighted to be able to welcome Quantum to the group. It further strengthens our links with Marks & Spencer, and will give us access to Quantum's world class manufacturing units," said Lugg.
Quantum Clothing has factories in Sri Lanka, India and Cambodia.
Sectors: Apparel, Finance, Manufacturing
Companies: Itochu, Marks & Spencer
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