Hongkong based investors acquires kellwood company

Hong Kong based investor group acquires Kellwood Company

Kellwood Company, LLC, a leading apparel manufacturer with a portfolio of popular brands focused on the women’s and junior’s fashion brands and private label apparel, announced that it has been acquired by a Hong Kong-based investor group for an undisclosed amount.

After acquiring Kellwood Co. eight years ago for US$762 million, Sun Capital Partners has sold the clothing venture to an unnamed Hong Kong investor group. The purchase, for an undisclosed price, includes Kellwood’s brands such as My MichelleJoltRewindDemocracySangriaJAX and Briggs New York as well as the XOXO apparel license. Its Vince label was spun off three years ago as a publicly traded company, becoming the first apparel company to go public since Michael Kors made its initial public offering in 2011.

In connection with the acquisition, David Falwell has been appointed Chief Executive Officer of Kellwood. Falwell returns to Kellwood where he served as Executive Vice President of Operations until 2013, following a 29-year career at Kellwood and predecessor companies. Caren Belair, a 33-year veteran of Kellwood, will continue as the Company’s President, and Xiaopei Chin, who has been with Kellwood for 10 years, has been appointed President of the Western Region.

“Kellwood is one of the leading apparel manufacturers in the United States, with over 50 years of history at the forefront of the apparel industry,” said David Falwell, CEO of Kellwood. “We believe that there is tremendous growth potential for Kellwood’s businesses, and this acquisition will allow the company to leverage its existing relationships in Asia to grow its businesses and increase profitability.”

“I am also excited to have this opportunity to return to Kellwood to lead a proven management team,” continued Falwell. “Together with a strong investor group that believes in the company’s growth potential, I believe that Kellwood has a bright future and is better positioned than ever to serve its retail partners and consumers.”

Buchalter’s Shareholders Jeffrey Kapor, Jeremy Weitz and Tanya Viner, and their associate Garry Padrta represented the Hong Kong-based investor group in this transaction.

The merger brought together disparate managements and a diverse line of products, as well as 7,000 employees, 22 plants and combined sales of more than US$86 million.


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