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Monday, 3 August 2020, 21:10 HKT/SGT

Source: Lever Style Corporation
Lever Style to Acquire Vista Apparels to Expand Product Range For Customers

HONG KONG, Aug 3, 2020 - (ACN Newswire) - A subsidiary of Lever Style Corporation ("Lever Style" or the "Group") (stock code: 1346) has entered into a sale and purchase agreement to acquire certain assets of Vista Apparels Limited ("Vista"). Hong Kong-headquartered knitwear manufacturer Vista supplies sweaters to premium brands such as Paul Smith and James Perse and digitally-native brands like Ministry of Supply.

Lever Style will assume Vista's customers, supplier relationships, technical knowhow, and order book. The acquisition enables Lever Style to offer its existing customers sweaters in addition to the wide range of apparel the company already provides. Additional cross-selling opportunities are expected from Vista's customers purchasing Lever Style products.

"The Vista acquisition is a first step towards our goal to acquire companies that expand our business opportunities with our customers and further strengthen our market position," said Stanley Szeto, Executive Chairman of Lever Style. "We expect to start capitalizing on the synergies with Vista in 2021, and to announce further acquisitions in due course."

The acquisition is structured as an agreement to purchase certain of Vista's assets such raw material inventory, with the final purchase price based on performance.

Aug 3, 2020 21:10 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network

Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

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