SP Apparels Limited has acquired Young Brand Apparels Private Limited (YBAPL), a subsidiary of Bannari Amman Spinning Mills Limited, for a consideration of ₹167 crores. This strategic acquisition aims to enhance SP Apparels’ business synergy, particularly in the U.S. market, and expand its export capabilities.
YBAPL operates a state-of-the-art manufacturing facility situated on 26 acres of land with a 280,000 sq.ft factory in the outskirts of Chennai. The acquisition of YBAPL aligns with SP Apparels’ vision to diversify into other textile categories, strengthen its export portfolio, and broaden its business model. This move is expected to significantly support SP Apparels’ core business and drive future growth.
YBAPL is known for manufacturing intimate wear for renowned brands such as American Eagle, Jockey International, Marks & Spencer, Gelmart, and Benetton. The company exports to several countries, including the US, UK, Japan, and Canada.
SP Apparels believes this acquisition will enhance customer bases and target markets for both companies, leveraging YBAPL’s established infrastructure and market presence. The state-of-the-art, air-conditioned production facility in Chennai will play a crucial role in this strategic expansion, ensuring high-quality manufacturing and operational excellence.