HanesBrands To Sell Champion IP and Assets; Focus On Innerwear

HanesBrands, Winston-Salem, N.C., has entered into a definitive agreement to sell the intellectual property (IP) and certain operating assets of its Champion business to New York City-based Authentic Brands Group. The transaction is valued at $1.2 billion, but could reach as high as $1.5 billion with an additional contingent cash consideration of up to $300 million. The contingency is based on reaching performance thresholds. The sale, expected to be completed in the second half of 2024, remains subject to customary closing conditions. There also will be a transition period during which HanesBrands will provide certain transition services for Champion including operating the business in select regions.

After the sale closes, HanesBrands intends to focus on the innerwear category and its brands including Hanes, Bonds, Maidenform and Bali.

Bill Simon, chairman of the board, said: “Following a thorough review of options for the global Champion business with the support of our financial and legal advisors, we are pleased to have reached this agreement with Authentic Brands Group that we believe maximizes value for Champion and best positions HanesBrands for long-term success. Importantly, we believe this transaction will enable the company to accelerate its debt reduction while positioning HanesBrands to deliver consistent growth and cash flow generation through a focused strategy on advancing its leading innerwear brands and optimizing its world-class supply chain.”

2024 Quarterly Volume III

Juki, Coloreel Partner

Juki America Inc., Morrisville, N.C., has entered into a partnership with Sweden-based Coloreel to market and sell Coloreel’s thread dyeing technology to its sewing customers. Juki’s distributors have exclusive rights to provide Coloreel for sewing machines within North and South America.

“We’re excited about this expan-sion from embroidery to sewing,” said Torbjörn Bäck, Coloreel CEO. “This agreement is a strategic milestone for Coloreel as we apply our technology to the broader sewing market. Working with Juki America allows us to leverage their robust market presence and technical expertise.”

2024 Quarterly Volume III

Target, Cargill To Use FibreTrace® Technology

Singapore-based FibreTrace® has entered into an agreement with Minneapolis-based Target Corp. and Cargill, Wayzata, Minn., that will permit real-time verification of
U.S. and Brazilian cotton in Target’s supply chain. During its first year, the collaboration will mark 50,000 metric tons of raw U.S. and Brazilian raw cotton with FibreTrace’s luminescent pigment technology during ginning. This pigment then allows the cotton supply to be tracked and identified across the supply chain. Data is securely uploaded to Blockchain where it may be shared using FibreTrace’s platform or another digital platform of the brand’s choosing.

“Achieving full visibility to where the cotton used to produce our products is grown is among the top priorities of our sustainability goals,” said Bill Foudy, senior vice president, and president, Owned Brands, at Target. “Our partnership with FibreTrace and Cargill is an important step to improve traceability for the industry and will enable us to accelerate those efforts with our suppliers.”

2024 Quarterly Volume III

Pleneri Establishes Innovation Center At MSC

Pleneri has opened an Innovation Center at the Manufacturing Solutions Center (MSC), Conover, N.C. The apparel innovation company offers a digital platform that takes fashion designs and translates them into digital manufacturing instructions. The company reports this technology allows for smaller order quantities and enables small, independent designers to access tools and capabilities that previously were only available to large companies. In the future, Pleneri has plans to establish microfactories to meet the needs of designers and brands with a focus on sustainable practices and reduced environmental impact.

Jeff Neuville, director of the Manufacturing Solutions Center, highlighted the synergy between Pleneri and MSC, saying: “… Our mission is to support early-stage companies by providing access to state-of-the-art equipment, industry expertise, and a collaborative environment. Pleneri’s presence here will significantly contribute to the advancement of the textiles industry in North Carolina, showcasing the value of reshoring manufacturing back to the United States.”

2024 Quarterly Volume III

Stoll Introduces CMS 703 ki

Germany-based Stoll has introduced the CMS 703 ki Knit and Wear Knitting machine. With its 72-inch-working-width and gauge range of E 6.2 to 10.2, the machine can produce seamless knitwear in a variety of sizes. Tailored for smaller budgets, the machine incorporates Stoll’s new Multiflex® take-down system, spring-loaded latch needles, multi-touch operation panel, and a screen with a wide viewing angle all for a low investment cost. According to Stoll, the machine requires little maintenance and may be fully integrated into automated and digitized processes.

2024 Quarterly Volume III

Alchemie Gets Grant To Collaborate With Taiwan’s Textile Industry

England-based Alchemie Technology reports it has received a £742,254 ($919,700) grant to help drive transformation of Taiwan’s textile industry. Alchemie will work with JSRTEX Group, a Taiwan-based textile manufacturing innovator, to help reduce emissions and wastewater in the supply chain. Textile lamination processes in particular will be targeted, and the companies will develop a digital, non-contact method for applying polyurethane to fabrics. The grant was delivered in partnership with Innovate UK.

“This new collaboration between the UK and Taiwan is a key milestone for the industry, with two nations working together to put practical solutions in place to completely transform the textile finishing process,” said Alan Hudd, CEO and founder, Alchemie Technology. “We’ve been overwhelmed by the strength of the shared purpose between our two nations, and the support from Innovate UK and the Taiwanese government to bring this project to life.”

2024 Quarterly Volume III

Fi-Tech To Represent Zimmer Austria

Austria-based Zimmer Austria recently announced a restructuring of its business in the United States and Canada. The company’s printing and finishing equipment is now represented in the United States and Canada by Fi-Tech Inc., Midlothian, Va. This reorganization of its sales network is a strategic move that will strengthen sales capabilities and also improve service and maintenance for existing customers. Zimmer Austria is very grateful to the Zimmer Machinery Corp. team consisting of leader Roland Zimmer, Franziska Basalone and Gerald Abele for their endeavors while representing Zimmer machinery in the United States and Canada.

2024 Quarterly Volume III

Karl Mayer Launches CASCADE Energy Solution

Germany-based Karl Mayer Group has introduced Cascade, a solution for inline energy recycling on its PROSIZE® sizing machines and BLUEDYE dyeing plants. Cascade focuses on steam as a heating medium in cylinder dryers.

“CASCADE recirculates parts of the process steam in cylinder dryers, enabling genuine, efficient energy recycling within the machine,” explained Karl-Heinz Vaassen, head of Textile Drying at KARL MAYER.

For example, an Asian textile manufacturer running a dryer with 14 cylinders over 7,000 working hours can save up to $17,000 per year using Cascade, according to Karl Mayer. To illustrate the savings, the machine dashboard displays the corresponding reduction in carbon dioxide equivalents as calculated using data from a sensor that provides in real-time the amount of steam circulating in the unit.

The patented Cascade system is now included as standard equipment on Prosize sizing machines. The next step is for the company to integrate Cascade into other dryers as well
as its Bluedye system.

2024 Quarterly Volume III

Archroma Launches COLOR MANAGEMENT+

Switzerland-based Archroma recently launched COLOR MANAGEMENT+, a color design and development solution created to aid collaboration between textile brands and manufacturers. According to Achroma, the solution features the industry’s largest off-the-shelf color atlas containing more than 5,700 unique colors for cotton, polyester and blends. Combined with design tools and engineered color standards created using Archroma’s SUPER SYSTEMS+, Color Management+ provide accurate color reproduction with a reduced environmental impact.The company reports Color Management+ provide recipes and references that colorists need to bring colors to life.

2024 Quarterly Volume III

Campos Selects Brückner Tenter For Expansion

Germany-based Brückner Trockentechnik GmbH & Co. KG recently supplied a Brückner POWER-FRAME tenter frame with vertical transport chain to Spain-based Campos, a producer of mattress fabrics and stretchable knit fabrics. A few years ago, the company decide to expand and finish its fabrics in-house and selected the tenter from Brückner for a variety of reasons including the quality of the machines and company philosophy.

According to Brückner, countered heating and ventilation elements in the Power-Frame tenter ensure uniform air impingement across the entire fabric width; a split-flow ventilation system and low specific energy consumption contribute to drying performance; and the robust construction and low-maintenance chain ensure long service life and low wear.

2024 Quarterly Volume III

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