S.P. Apparels Completes Acquisition Of Young Brand Apparel
S.P. Apparels Ltd, headquartered in Avinashi, Tamil Nadu and well-known for its high-quality textile and apparel products, has officially completed the acquisition of 100% equity shares of Young Brand Apparel Pvt. Ltd. (YBAPL). This acquisition marks a significant milestone in S.P. Apparels’ strategic expansion into the international market, particularly the U.S.A., enhancing its business synergies and market presence.
The acquisition process was completed yesterday i.e. June 21, 2024 and it involved a cash transaction of Rs 167 Crores. This acquisition aligns with S.P. Apparels’ vision to diversify into new textile categories and strengthen its export portfolio. The move is set to enhance S.P. Apparels’ market presence and build a more robust business model by leveraging YBAPL’s established customer base in the U.S., UK, Japan, and Canada.
P. Sundararajan, Chairman & Managing Director of S.P. Apparels, is now the Managing Director of YBAPL and S. Chenduran, Joint Managing Director of S.P. Apparels, has been appointed as Director of YBAPL.
Young Brand Apparel established in December 2006, YBAPL specializes 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 acres of land with a 280,000 sq. ft. factory near Chennai. YBAPL reported a turnover of Rs. 325.91 Crores for the fiscal year 2022-2023.
