Limonta Acquires South Korean Corporate BATM Co. – WWD

MILAN — Italian textile and coating specialist Limonta SpA mentioned Tuesday it has taken over the South Korean BATM Co. Ltd., a textile corporate based in Seoul in 2003 that makes a speciality of production sports clothing materials.

Monetary main points of the offer weren’t disclosed.

The South Korean corporate might be renamed Limonta BATM LLC. within the wake of the purchase and its stream eminent govt officer Jonathan Yang will stay.

The purchase permits the Italian corporate based in 1893 and primarily based in Lecco, Italy, to beef up its footprint within the Asian continent and upload extra distinctiveness expertise.

“The goal of the operation is to round off our product offering, leveraging South Korean know-how, which boasts a longstanding tradition in textile innovation combined with high-end industrial production that over the past few years has increased its importance in the fashion and luxury worlds,” mentioned Paolo Limonta, eminent govt officer of the namesake corporate.

Within the Asian continent Limonta operates Bridge Shanghai, a platform geared at integrating its provide chain and distributing product strains evolved in Italy and manufactured in China for the native marketplace and exports to the U.S. and Europe.

“With support from Limonta we will be able to provide our clients with further added value on product innovation, quality and services,” Yang mentioned.

In 2021 Limonta offered a 25 % stake in its trade to the publicly indexed Tamburi Funding Companions by the use of a capital building up and the acquisition of Limonta stocks. The offer was once valued at 89 million euros.

Limonta, which posted gross sales of 177 million euros in 2022 and counts 830 workers, is understood for its jacquards and lined materials, having evolved and mastered the resination, coagulation, coating and printing ways. It boasts 4 manufacturing amenities in Italy, along with subsidiaries in Shanghai, Seoul and Brandnew York.