According to a Bloomberg report, Affinity Equity Partners sold Hong Kong-based clothing label maker Trimco Group to Brookfield Asset Management.
The deal values Trimco, which counts Nike as one of its biggest clients, between $800 million and $900 million.
Brookfield outbid other private equity firms. The Toronto-based alternative asset manager could seek to expand Trimco globally both organically and via acquisitions, said Bloomberg.
Founded in 1978, Trimco makes clothing labels, radio frequency identification tags, packaging, and store decorations for apparel retailers. The group operates through its Clotex, Labelon and A-Tex units working with “more than 800 brands and 8,600 manufacturers globally.”
Launched in March, clothing makers, including Asics Corp, use Trimco’s platform for monitoring supply chains and social and environmental governance.
