Known for its high-quality textile and apparel products, SP Apparels has acquired 100 per cent equity shares of Young Brand Apparel(YBAPL). Marking a significant milestone in SP Apparels’ strategic expansion into the international market, particularly the US, this acquisition enhances its business synergies and market presence.
The acquisition involved a cash transaction of Rs 167 crore. It aligns with SP Apparels’ vision to diversify into new textile categories and strengthen its export portfolio. The move is set to enhance the company’s market presence and build a more robust business model by leveraging YBAPL’s established customer base in the US, UK, Japan, and Canada.
PSundararajan, Chairman & Managing Director, SP Apparels, has been appointed as the new Managing Director of YBAPL and SChenduran, Joint Managing Director, SP Apparels, has been appointed as a Director of the company.
Established in December 2006, YBAPL specialises in manufacturing and exporting intimate wear, catering to well-known brands like American Eagle, Jockey International, Marks &Spencers, Gelmart, and Benetton. The company operates a state-of-the-art facility on 26 acre with a 280,000 sqft factory near Chennai. The company recorded a turnover of Rs. 325.91 crorefor the fiscal year 2022-2023.
