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A&E TO ACQUIRE GÜTERMANN

 

Mount Holly, NC (June 16, 2014) ? American & Efird (“A&E”) announced today that the stockholders of Gütermann Holding SE have approved the previously announced transaction whereby A&E will acquire substantially all of Gütermann Holding SE’s global industrial and consumer thread business (“Gütermann”). Financial terms of the transaction were not disclosed.

Founded in 1864 and headquartered in Gutach, Germany, Gütermann is a leading European manufacturer and distributor of premium, high-quality sewing thread products for consumer and industrial applications.  Gütermann’s products serve a variety of end-markets, including apparel, shoes, leather goods, work wear, home textiles and automotive end markets.  Gütermann has a highly regarded brand name globally and a strong reputation among leading European apparel and non-apparel brands.  Gütermann owns and operates four manufacturing facilities located in Germany, Spain, Mexico and India, and employs approximately 1,000 associates around the world.

Completion of the transaction is expected on June 30, 2014 and is subject to customary closing conditions.

About American & Efird

A&E is the largest U.S. manufacturer and the world’s second-largest manufacturer and distributor of premium quality industrial and consumer sewing thread, embroidery thread and technical textiles.  Producers of apparel, automotive components, home furnishings, medical supplies, footwear and a diverse range of industrial products rely on A&E industrial sewing thread to manufacture their products.  Customers select A&E as the preferred choice for industrial sewing thread, embroidery thread and technical textiles because of A&E’s dedication to providing its customers with the finest products and services, at the highest quality, delivered globally.  Through its global network, A&E’s products are manufactured in 20 countries, distributed in 44 countries and sold in over 95 countries.  In addition to A&E’s steadfast commitment to superior quality and customer service, A&E is a recognized industry leader in environmental sustainability and corporate social responsibility, and operates its global facilities with the utmost regard for the safety and health of its associates employed worldwide.   A&E owns or operates 22 manufacturing facilities and employs over 9,000 associates around the world directly or in partnership with joint venture partners.  For more information, please visit www.amefird.com.

 

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