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US thread maker A&E to buy largest thread maker in India

American & Efird (A&E) - the largest U.S. manufacturer of industrial and consumer thread, embroidery thread and technical textiles - is acquiring a majority ownership of Vardhman Yarns and Threads from its joint-venture partner, Vardhman Textiles.

Vardhman Yarns and Threads is India’s second-largest manufacturer and distributor of industrial and consumer sewing thread. When the transaction is completed, A&E will own 89 percent of the venture and Vardhman Textiles will own the other 11 percent.

According to Les Miller, A&E’s chief executive, the acquisition of Vardhman Yarns and Threads accelerates A&E’s continued global growth and diversification. Our long-standing blue-chip customer base - including leading global brands, multinational corporations and regional manufacturers - rely on A&E as a mission-critical supply-chain partner.

Miller said that the acquisition will help A&E meet demand for high-quality products in India and increasing international demand for exports from India.A&E, a KPS Capital Partners portfolio company, will invest significant capital and resources in Vardhman Yarns and Threads to ensure environmental sustainability, technological innovation and customer service.

 
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