Platinum Equity to Acquire Majority Stake in Lingerie and Swimwear Firm Hop Lun.
MANews-(C)2009-2022
US-based private equity firm Platinum Equity has signed a definitive agreement to acquire a controlling stake in Hong Kong-based fashion lingerie and swimwear company Hop Lun from company founder Erik Ryd, the firm said.
Financial terms were not disclosed.
Founded by Ryd in 1992 and headquartered in Hong Kong, Hop Lun is one of the world's largest designers and manufacturers of intimate apparel and is a top provider of bra solutions in the US, UK and EU.
The Hop Lun investment is being led by Platinum Equity's Singapore office.
Hop Lun employs more than 30,000 people and has manufacturing operations in Bangladesh, China, Ethiopia and Indonesia.
The company produces products for many of the world's largest global retailers as well as for its own in-house brands.
Ryd will retain a significant stake in Hop Lun and will continue to help lead the business going forward.
The transaction is subject to customary closing conditions and is expected...
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