Sae-A Trading Announces Definitive Agreement to Acquire Tegra
- Combined company establishes the market leader in athletic apparel in North America
ATLANTA and SEOUL, South Korea, April 8, 2024 /PRNewswire-HISPANIC PR WIRE/ – Sae-A Trading, the vertically integrated leading garment manufacturer and supply chain solution provider, announced today that it has signed a definitive agreement to acquire Tegra’s operating entities in Honduras, El Salvador, and the US.
Tegra, headquartered in Atlanta, Georgia, develops and manufactures sports apparel products for global brands that ultimately outfit professional, college, and high school athletes and their fans. Tegra’s integrated operational entities include Fjord and ArtFx in the US, Southern Apparel Contractors in Honduras, and Decotex in El Salvador. Those entities, acquired and integrated over time by Tegra, possess unparalleled product and manufacturing knowledge, expertise, and capabilities that benefit customers and suppliers, enabling Tegra to be the leading manufacturer of performance-driven on-field uniforms and gear for elite athletes.
Sae-A Trading, established in 1986, is a vertical textile and apparel garment manufacturer supplying the US and European retail markets, with a global production base spanning both sides of the world: Central America and Southeast Asia. Currently, Sae-A Trading employs more than 30,000 associates across its operations worldwide. Sae-A Trading operates in eight production countries, fully verticalized from yarn spinning, fabric knitting/dyeing, graphic printing, garment washing, and sewing.
“We are proud and thrilled to welcome Tegra into the Sae-A family,” said WK Kim, Global Sae-A Group Chairman. “This acquisition enables Sae-A Trading to further its growth trajectory, while ensuring continuous and consistent delivery of world-class products for its customers. The scale, operational bases, product development capabilities, and know-how that are being established with this combination will create significant opportunities and advantages for our customers and suppliers.” The integration of Sae-A Trading and Tegra significantly expands the company’s geographic presence, and on a combined basis, Sae-A Trading will be a market leader in the Western Hemisphere, complimenting its existing leadership position in Asia. Kim further stated that “Sae-A Trading welcomes Tegra’s vital employee base to the combined company,” and looks forward to accelerated investments in production and capabilities to better serve our valued customers.
“We have been impressed by the commitment of Sae-A to our business, region and customers, and believe this transaction represents an attractive outcome for Tegra, its employees and our stakeholders,” said Steve Cochran, Tegra’s Chief Executive Officer.
Closing is expected to take place in April 2024. The terms of the transaction were not disclosed.
Tegra was advised by Greenhill (Mizuho M&A), O’Melveny & Myers LLP and Palm Tree Advisors; while Baker McKenzie and EY advised Sae-A Trading.
Tegra will be headquartered in Seoul, Korea.
About Sae-A Trading
Sae-A Trading was established in 1986 and is a subsidiary of Global Sae-A, the holding company of the Global Sae-A Group. Sae-A Trading is one of the world’s largest vertically integrated textile and apparel garment manufacturers supplying the US and European retail markets. It has a global production base spanning both sides of the world: the Western hemisphere and Eastern hemisphere. It operates in 8 production companies, fully verticalized from yarn spanning, fabric knitting/dyeing, graphic printing, garment washing, and sewing. Currently, Sae-A Trading employs more than 30,000 associates across worldwide operations.
About Tegra
Tegra was established in August 2016 in Atlanta, Georgia, through the acquisition and integration of New Holland and ArtFx. Supported by leading global brands, Tegra soon became a premier and leading near and onshore apparel manufacturer in the western hemisphere for sport, team and performance apparel with a highly-skilled experienced, stable workforce with differentiated technical skills. Tegra has more than 7,500 employees globally, producing apparel for athletes of all categories and the fan’s that love sport. Tegra has two facilities in Central America (Honduras and El Salvador) combined with three facilities located in the US. Tegra delivers superior product and supply chain solutions through innovation, process integration, capabilities and technology.
Photo - https://mma.prnewswire.com/media/2377291/Press_Image__Sae_A_Trading_HQ.jpg