Hop Lun to acquire Tobago & Chantelle's Morocco units

The agreements include:

• The acquisition of Tobago, a Morocco-based premium manufacturer of corsetry, lingerie, and swimwear that primarily supplies French and other European manufacturers who serve global customer bases. The company operates a 3,000 square-meter facility in Casablanca that produces approximately 1 million pieces per year. Established in 1996, Tobago's founders have committed to staying on to assist with the transition and integration process.
• The acquisition of the Chantelle Group's Morrocco operations, comprising its Famaco and Atma manufacturing facilities, which currently produce ~1.4 million pieces per year. Founded in 1876 and headquartered in Paris, Chantelle is one of the most established luxury lingerie brands in the world. Chantelle will remain a customer of Hop Lun post close.

Combined, the addition of the three manufacturing facilities in Morocco will add approximately 800 skilled employees to Hop Lun's global team. The combination of these two Moroccan businesses creates a unified platform that delivers scale, infrastructure, local leadership, credibility, and customer access.

In the upcoming weeks, Hop Lun will begin collaborating with future colleagues and partners to ensure a smooth and effective transition. The transactions are expected to close by year-end and mark another critical milestone in Hop Lun's continued international growth.

Based in Hong Kong, Hop Lun, a portfolio company of Platinum Equity, currently employs more than 30,000 people and has manufacturing operations in Bangladesh, China and Indonesia. The company produces products for many of the world's largest global retailers as well as for its own in-house brands.

Erik Ryd, Executive Chairman of Hop Lun, said: "We are thrilled to welcome the Moroccan teams into the Hop Lun family. This acquisition reflects our belief in the strength and potential of the local workforce, and our excitement about the opportunities ahead. Morocco offers a dynamic platform for growth, and we're committed to investing in its future.

This acquisition follows three successful integrations across diverse geographies and cultures, reinforcing Hop Lun's ability to navigate transitions with care, respect, and long-term vision. I've seen firsthand how our teams come together across borders to create something stronger and I'm confident we'll do the same in Morocco."

Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie said in a joint statement: "We have great respect for both of these businesses and their owners. We believe Morocco offers compelling advantages for Hop Lun's customers in Europe, including high-quality production capabilities, a skilled workforce, and faster replenishment cycles. We are proud to support Hop Lun's continued growth and diversification and will continue working with Erik and the company's leadership team to pursue additional opportunities to grow both organically and through strategic M&A."

The two Moroccan transactions will represent the fourth and fifth acquisitions Hop Lun has completed since Platinum Equity acquired the business in 2022.

Earlier this year Hop Lun acquired Lintas, expanding the company's manufacturing footprint in Bangladesh and strengthening its ability to serve the European market.

In 2024, Hop Lun acquired PH Garment, which added three manufacturing facilities in Bangladesh and China and expanded Hop Lun's capabilities producing bonded products.

In December 2023 Hop Lun acquired Rainbow West Apparel, a Los Angeles-based company with roots in both swimwear and outerwear.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

ALCHEMPro News Desk (RM)