Pacific Brands reaches agreement to acquire workwear brand
22 Feb '07
3 min read
Pacific Brands Limited (Pacific Brands) announced that it has entered into an agreement to acquire the Yakka Group of companies (Yakka). Due Diligence is under way and the transaction is expected to be finalised and completed in the near future.
Yakka is a private company that was founded in the 1930's and has traded continuously for more than 70 years. Yakka is the holding company for a number of subsidiary companies distributing industrial and corporate workwear, casual wear, jeans and footwear in Australia and New Zealand.
Yakka owns and manages a range of workwear brands, including Yakka, Hard Yakka, and Can't Tear 'Em. It also manages a number of everyday outerwear brands including Weekenders, Mustang, Wrangler Jeans, Lee Jeans and Riders by Lee Jeans.
Yakka also has a major presence in the corporate and defence apparel sectors in Australia and New Zealand with Neat 'n Trim, Dowd Corporation and Stylecorp as suppliers to major corporate customers.
Commenting on the acquisition, the CEO of Pacific Brands, Mr Paul Moore said, “This will be a sound acquisition for Pacific Brands cementing in place our strategic platform for the future. This is a business we understand well with great brands, strong distribution and strong management. It is a true Australian icon with brands that have been important to working Australians for generations."
“The acquisition will give us a much stronger apparel business in general with stronger representation in the independent channel, fitting extremely well alongside our existing workwear, sporting and lifestyle apparel businesses."
marketing@alchempro.com
