Posted April 28, 2014

 

MOUNT HOLLY, N.C. ─ American & Efird (A&E) announced April 25 that it has entered into definitive agreements with Gütermann Holding SE to acquire its subsidiaries and certain assets that constitute its entire industrial and consumer thread business.

 

Financial terms of the transaction were not disclosed.

 

Celebrating its 150th year in business this year, Gütermann is a leading European manufacturer and distributor of consumer and industrial sewing thread products for use at home and in 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 European apparel and non-apparel brands. The company was founded in 1864 and is headquartered in Gutach, Germany.

 

Gütermann has four manufacturing facilities located in Germany, Spain, Mexico and India, and employs about 1,000 people around the world.

 

“Gütermann is a world-class company with a highly regarded brand name and an exceptional reputation among consumers and world-class European brands,” said Fred Jackson, CEO of A&E. “We are very excited about the combination of A&E and Gütermann and believe it will accelerate our success and growth in the global marketplace.”

 

The purchease opens new opportunities for Gütermann globally, according to Peter Zwicky, CEO of the Gütermann Group.

 

“Together, we can expand our strength in the industrial and consumer sewing thread markets and better fulfill our customer’s global requirements,” he said.

 

The transaction is expected to be completed in the summer and is subject to shareholder approval and other customary closing conditions.

 

A&E is the world’s second largest manufacturer and distributor of premium quality industrial and consumer sewing and embroidery thread. A&E products are used by producers of apparel, automotive components, home furnishings, medical supplies, footwear and a diverse range of industrial products.