EmergeVest exits Chinese apparel supplier JDU

11 Aug '17

2 min read

Hong Kong-based EmergeVest has exited its investment with Chinese apparel supplier JD United Holdings Limited (JDU). The private equity firm has sold its stake to Taiwan-listed textile Roo Hsing Co for $500 million. The merger with Roo Hsing cements the business as one of the world’s leading denim manufacturers, with combined revenue above $500 million.

We are delighted to have helped JDU management make such significant progress in growing the business. We wish the enlarged company well for the future," said Roger Moh, managing director at EmergeVest.

"I would like to express my gratitude towards EmergeVest and its partners for their support. EmergeVest has enabled us to capitalise on growth opportunities, culminating with the merger with Roo Hsing. We are well positioned for future development," Richard Sun, CEO at JDU.

EmergeVest first invested in JDU in 2014 and supported the company’s expansion with additional capital in 2015. Headquartered in Changzhou, Jiangsu, China, JDU has 25 manufacturing facilities across Asia and Africa, producing apparel for leading international brands and retailers, such as Levi Strauss, Gap, Fast Retailing, Primark and C&A. During its investment period, EmergeVest reorganised JDU’s shareholding structure, buying out a previous private equity investor, optimised JDU’s balance sheet, financed expansion into new markets and product categories, and managed the merger with Roo Hsing. (RR)

Fibre2Fashion News Desk – India