S.P. Apparels Ltd, based in Avinashi, Tamil Nadu and famous for its quality textile and apparel offerings, has successfully completed the purchase of 100 per cent equity share of Young Brand Apparel Pvt. Ltd. (YBAPL). This purchase represents a noteworthy milestone in S.P. Apparels’ planned expansion into international markets, mainly the USA, strengthening its business synergies and market footprint.
The acquisition comprised a cash transaction adding up Rs. 167 crore. This tactical move lines up with S.P. Apparels’ vision to branch out into new textile segments and reinforce its export portfolio.
Under the latest arrangement, P. Sundararajan, Chairman & MD of S.P. Apparels, takes over the role of MD at YBAPL, while S. Chenduran, Joint MD of S.P. Apparels, has been selected as Director at YBAPL.
Established in December 2006, Young Brand Apparel Pvt. Ltd. concentrates in the manufacturing and export of intimate wear, serving well-known brands like American Eagle, Jockey International, Gelmart, Marks & Spencer, and Benetton. The company runs an advanced facility spread over 26 acres of land amidst a 280,000 sq.ft. factory near Chennai. YBAPL furnished a turnover of Rs. 325.91 Crores for FY 2022-2023.
