Nextil, one of the largest European textile groups, owning brand names such as Treiss, EFA, Ritex, SICI, Playvest,Anna Llop and Dogi, is currently in exclusive negotiations to acquire a textile manufacturing and distribution company in the United States with a turnover ofUSD 68 million. This marks further progress in Nextil’s Business Plan 2018-2020,which aims to continue incorporating companies that contribute value in eachstage of its business; achieve annual sales of EUR 200 million; and consolidate Nextil’s positioning in key markets and important segments and niches of the textile industry.
In the words of Eduardo Navarro, the chairman of Nextil, “this is a very important operation for Nextil owing tothe size of the acquisition and because it will bring significant growth of thegroup’s business in a strategic market such as the United States.”
The company that Nextil plans to incorporate into the group posted an adjusted EBITDA of USD 7.1 million and has production facilities in the USA and Latin America and large retail chains among its customers.
The operation, as yet subject to due diligence, is a continuation of Nextil’s strategy of internationalisation in key markets such as the United States, where the group already owns the brand Elastics for America (EFA), used for the production of textiles for clothing, and with a factory of its own.
“Through this acquisitions policy, we aim to firmly establish Nextil as a major international textiles group within our pillars of growth: sustainability and innovation. Our growthstrategy through acquisitions is important to diversify our business, increaseour innovation capacity and continue growing,” explains Eduardo Navarro.
Nextil Group is the leading industrial textile group in Europe. Founded in 1954 in El Masnou (Barcelona), it has four factories in Spain, Portugal and the USA and commercial presence in all five continents. Nextil produces fabrics and garments for global leaders in the sectors of fashion, swimwear, athleisure and lingerie. In 2018, Nextil Group posted aturnover of EUR 73.4 million and had 570 employees.