PCCA Sells ACG, Denimatrix To AmTex
Plains Cotton Cooperative Association (PCCA), Lubbock, Texas, has sold its Textile and Apparel Division to American Textile Holdings LLC (AmTex), a venture of Monomoy Capital Partners, New York City, and Kingsmoor LLC, Farmington, Conn. The division comprises the American Cotton Growers (ACG) denim mill in Littlefield, Texas, and denim apparel manufacturer Denimatrix S.A., in Guatemala. With more than 2,200 employees, it is one of the largest denim manufacturing operations in the Western Hemisphere, AmTex reports.
AmTex will operate as a standalone business in the denim sector. Kingsmoor Partner Robert Fowler is serving as CEO of AmTex.
“We are very pleased that we have been able to conclude this transaction with AmTex,” said PCCA President and CEO Wally Darneille. “They bring new capital, fresh ideas, and a broad customer list which will offer opportunities for the people employed at those facilities.” He added that PCCA will provide computer hardware and software, accounting, and other services to AmTex.
“Denimatrix and ACG offer their customers unsurpassed quality, value and proximity in a denim manufacturing sector that is currently migrating from Asia back to the Americas,” Fowler said. “With our partners at Monomoy, we will expand the company’s capabilities and work with our customers to bring fashion-forward products to market through the most efficient supply chain in the industry.”