Supplier Quantum Clothing Group has been acquired by Japanese trader Itochu for an undisclosed amount.
Quantum Clothing Group specialises in menswear, lingerie, hosiery and intimate clothing and claims to be a leading supplier to Marks and Spencer.
The supplier will continue to be run out of the UK, with Itochu supplier Prominent Europe’s chairman and chief executive Nigel Lugg becoming chairman and group chief executive. The current management team will remain in place.
The acquisition will add to Itochu’s existing production businesses, which includes the manufacturing of menswear, womenswear, lingerie and sportswear.
Its website said that the company was looking to boost its manufacturing arm. “In the future, we will strengthen our businesses in China, which is enjoying marked growth, and in other Asian countries, and we will expand and enhance our value chains with our sights set not only on Japan but on the global market.”
Lugg said: “We are delighted to be able to welcome Quantum to the group. It further strengthens our links with Marks & Spencer, and will give us access to Quantum’s world class manufacturing units.”
Quantum Clothing Group has factories in Sri Lanka, India and Cambodia.