Kaiser (China) To Acquire Majority Stake In Apparel Co

Date:2011-11-22houhaizhen  Text Size:

November 22 -- Apparel manufacturer Kaiser (China) Holding (002425.SZ), plans to obtain a 50.88 percent stake in Yuxin (Guangdong) Trade for 60.90 million yuan by way of share acquisition and capital injection, reports yicai.com, citing a company filing.

Yuxin (Guangdong) Trade is a wholesaler and retailer of various international apparel brands, acting as the agent for many international brands such as Allaire and Thomas Pink. Yuxin (Guangdong) Trade owns six subsidiaries and 28 franchised stores.

The value of Yuxin (Guangdong) Trade's total assets hit 39.12 million yuan as of end September, while owners’ equity totaled 31.55 million yuan.

During the first three quarters, Yuxin (Guangdong) Trade posted net earnings of 5.05 million yuan on revenue of 44.78 million yuan.

Kaiser (China) Holding said the investments will facilitate the internationalization of the company's brands, and increase its share of the high-end market.

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