|There have been reports in the industry for the last 3 months that MAS Holdings of Sri Lanka was negotiating to purchase Acme McCrary of Asheboro, NC. The following link confirms the deal is taking place:
Read the press release here…
AKC Note: ACME McCrary is a leading US producer of legwear and seamless garments with a 100 year plus history. They were instrumental in helping to establish the highly successful Spanx range of control wear in the early days when a great idea needed a manufacturing partner. They still carry out some research and manufacturing for Spanx, but the majority of Spanx production is made offshore. The draw texturing company Sapona is a partner company of Acme McCrary with some common ownership. MAS Holdings is a leading global producer of intimate apparel, activewear, swimwear and fabric with a reported 80,000 employees. Based in Sri Lanka with a $1.6 billion turnover, MAS has operations in 15 countries and the acquisition of Acme McCrary increases its Americas presence significantly. As we have reported in many News Updates in the last 6 months, overseas investments in the greater US textile industry have been a strong feature of the markets recently.