Home / Knowledge / News / Apparel/Garments / IDS shareholders approve acquisition by Li & Fung
IDS shareholders approve acquisition by Li & Fung
Oct '10
Integrated Distribution Services Group Limited shareholders voted by a strong margin to approve the scheme of arrangement in respect of the offer made by Hong Kong-based multinational Li & Fung Limited to acquire IDS.

The Scheme was approved at the Court Meeting held on October 7, 2010, and various matters for the implementation of the Scheme were approved at the Special General Meeting of IDS held immediately after conclusion of the Court Meeting on October 7, 2010. For details of the results of the Court Meeting and the Special General Meeting of IDS, please refer to the announcement of 7 October 2010 jointly published by Li & Fung and IDS.

Commenting on the voting by IDS shareholders, Mr Bruce Rockowitz, President of Li & Fung (Trading) Limited, said, “We are very pleased that the IDS' shareholders have approved the transaction. This acquisition is an important step for us as we continue to pursue our growth strategy. The IDS platform strengthens our end-to-end supply chain solution offerings. It also expands our global network for future growth as we will not only sell to developed nations, but with IDS, we'll also be able to distribute to emerging markets. We are also confident that we can maintain a good balance between organic growth and growth by acquisition.”

Commenting on the voting, Mr Ben Chang, Group Managing Director of IDS, said: “The opportunity to merge with Li & Fung provides IDS with significant advantages by quickly accessing a strong customer base and expanding globally especially in our US logistics operations. We will also work with Li & Fung to rapidly grow the wholesaling of apparel and hardgoods in China by leveraging our solid Asian distribution and logistics network. Additionally, IDS will benefit from Li & Fung's consolidation of their export logistics operations.”

Li & Fung Limited

Must ReadView All

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search