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Knitting / Apparel

Grupo Karim's To Purchase Jockey De Honduras Operations By December 2013

SAN PEDRO SULA, Honduras — June 10, 2013 — Jockey International, Inc. and Grupo Karim's announce reaching an agreement to purchase Jockey's production facilities in Honduras (Jockey de Honduras) by December 2013 under a long-term agreement that will position this operation as a strategic supplier and valued partner of Jockey in the western hemisphere as Jockey converts in 2014 to 100% globally sourced supply chain.

This transition will provide Jockey with additional flexibility and options to introduce innovative products to market more quickly while continuing to offer their customers traditional Jockey qualities of fit, comfort and quality.

Grupo Karim's strongly believes in the potential of the region and capabilities of the Honduran people and with this strategic partnership it will not only support Jockey's product needs but also complement the group's textile offerings of yarn, chemicals, fabric and now additional sew capacity. Earlier this year Grupo Karim's also announced the acquisition of Woong Chun Honduras (now called Pride Performance Fabrics), a warp and circular knit textile mill with monthly capacity of over 5 million lbs of cotton and synthetic fabrics. These consolidations will help further position GK as one of the leading and most versatile textile companies in the region, increasing the group's annual turnover to over $400 million, a spokesman of Grupo Karim's said.

Grupo Karim's is a vertical manufacturer of private label products with yarn spinning, chemicals and apparel manufacturing facilities in the western hemisphere, as well as large Industrial, Commercial and Residential Real Estate developments in Mexico and Central America. The company is headquartered in Honduras, with operations in Mexico, Central America and the Caribbean.

Posted on June 11, 2013

Source: Grupo Karim's

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