Pearl Global Industries’ wholly owned subsidiary -- Pearl Global (HK), Hong Kong has acquired 9,00,860 equity shares representing 52.11% equity capital of Bangladesh based, Alpha Clothing (Alpha) for a consideration of $1.05 million on April 21, 2022. This acquisition will be funded through internal accruals.
Alpha commenced its operations in the year 2013 with a modest workforce of 150 people and 100 machines. With efficient production processes, it has currently grown to a workforce of 2,100 people, 1,000 sewing machines, and a capacity of 8 million pieces a year. Alpha was a part of the approved facilities for outsourcing.
Pearl Global Industries is an end-to-end clothing vendor and supplier with a presence across the globe.
