Xceed, the custom activewear brand based in Mexico City, announced plans to rapidly expand its brand through the acquisition of U.S.-based Peaks Apparel.
The financial terms of the acquisition have not been disclosed. deal deal includes distribution agreements and a licensing deal with next generation technology software platform BrikL LTD.
“This is an exciting acquisition that supports our growth strategy,” explained Xceed CEO Miguel Arvizu. “We will be able to leverage our established brand, production and distribution operation to further expand our market and channel penetration. We are ready to take the next steps in becoming a large-scale production hub for North Americaand the licensing and distribution agreements will get us there quickly.”
The new BrikL software platform with the expectation that the entire system to be fully live by June.
Peaks Apparel will transition to the Xceed name by the end of 2019 and continue to spearhead the expansion of Xceed in the U.S. and Canadian market.
“It is a little surreal to wake up one morning and know that you are now one of the largest and fastest growing brands in your market space,” said Jason Reinhardt, CEO and founder of Peaks Apparel. “Having teams of inhouse designers, customer service personnel, large scale production facilities and retail shops all driven by advanced technology will provide our customers a much better overall experience.”