Chargeurs UK has followed up its acquisition of Drummond by buying part of West Yorkshire-based Parkland Holdings.

A short statement issued jointly by Chargeurs UK and Parkland Holdings said that the two companies have signed an agreement for the acquisition. It said that Chargeurs will, as a result of the deal, reinforce its position in the UK, and the statement added that "important synergies with Drummond, another subsidiary of Chargeurs UK Ltd, as well as with other international Chargeurs Fabrics sourcing and logistics platforms will be developed to optimise performances."

Chargeurs completed the acquisition of Bradford-based Drummond in June. It already owned 74 per cent of the business and bought the remaining 26 per cent in a deal valued at £4.5m.

In a document setting out the deal Chargeurs said it: "expected to take a pro-active role in the consolidation of the UK textiles industry."

The latest deal with Parkland Holdings is for the acquisition of Parkland of England, along with its dyeing and finishing subsidiary Park Valley. The two companies have not revealed the price of the deal, but Parkland Holdings will retain its weaving division, J & C Croysdale.

Parkland's chairman, John Hanson, who took Parkland private in 1999, also owns Greenswood Menswear - a separate business. Neither he nor Sergio Coimbra, the chairman of Chargeurs UK, are talking about the deal at the moment.

It is thought that Chargeurs' new acquisition will be integrated with the Drummond business, although a spokesman said that Chargeurs was not planning any redundancies following the deal.

By Clive Hinchliffe


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