Home / Knowledge / News / Textiles / BlueGem LLP acquires yarn manufacturer Sirdar
BlueGem LLP acquires yarn manufacturer Sirdar
12
Apr '17
Courtesy: BlueGem Capital Partners LLP
Courtesy: BlueGem Capital Partners LLP
BlueGem Capital Partners LLP, a London based mid-market private equity manager, has announced its acquisition of UK market leader in hand knitting yarns Sirdar - establishing a global leader in needlecraft. BlueGem has acquired 100 per cent of the company, which will sit alongside needlecraft brands, Dollfus-Mieg et Compagnie (DMC) and Wool and the Gang.

Sirdar, DMC and Wool and the Gang will together form a new DMC Group, formerly known as Crafts Group Holding. The latter two companies were acquired by BlueGem in August 2016.

"We are delighted that Sirdar is joining DMC and Wool and the Gang. Together these three companies will form the DMC Group, which we want to become the world's foremost platform in the needlecraft space. DMC Group intends to be the global consolidator within the needlecraft industry, aiming to synergise the best companies operating worldwide in the category. As such, we are actively looking for further acquisitions," said Massimo Saracchi, group executive chairman of DMC Group.

"Increasing numbers of people now detox from digital activity through knitting and needlework - activities which tap seamlessly into the normalised behaviour for people to 'share' their creations on social media. The growing trend of 'Craft DIY' to monogram and customise clothing and accessories has led to a resurgence of embroidery and needlework. These are global trends happening right across the world, from London, Paris and New York to Tokyo, Nigeria and the UAE. It is a huge and growing market, and we believe that with Sirdar, DMC and Wool and the Gang, we have created the leading platform for our customers," added Saracchi.

"We have built a highly talented management team, with superb experience in e-commerce and digitalisation, product design, social activities and global commercialisation. We will leverage these skills to transform and modernise DMC and Sirdar to better reach consumers globally. DMC and Sirdar have a phenomenal history and heritage – these are companies which are over 270 and 137 years old respectively, and offer some of the highest quality products in their industries. We are very excited about the opportunities for this enlarged Group," Saracchi concluded.

There are compelling synergies to having the three companies together. Since the acquisitions in 2016, Wool and The Gang has reinforced DMC's footprint in knitting and transformed its digital platform, whilst Wool and the Gang has leveraged off the synergies of DMC and benefitted from its product offering and distribution channels and networks globally.

BlueGem Capital Partners LLP owns 100 per cent of Sirdar, DMC and Wool and the Gang. Prior to the Sirdar acquisition, approximately 50 per cent of DMC Group's sales came from Europe, 35 per cent from the US and 15 per cent from Asia. It has a production facility in Mulhouse, commercial and logistic centres in France, the UK, the US, Singapore and Japan, and commercial offices in Spain and Italy. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Courtesy: PR Newswire

Apparel/Garments | On 16th Aug 2018

Shoppers go to stores for thrifting experiences: Survey

Despite growth in e-commerce, shoppers still head to retail stores...

Pak ministry invests in training textile sector workers

Textiles | On 16th Aug 2018

Pak ministry invests in training textile sector workers

Pakistan’s ministry of commerce and textile industry is offering...

Interviews View All

Top executives
Textile industry

GST has levelled the playing field to an extent

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

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

news category


Related Categories:

Advanced Search