S.P. Apparels has entered into Memorandum of Understanding for purchase/transfer of Garment unit located at Palladam Hi-Tech Weaving Park, Palladam, Tamil Nadu and purchase of 6.43 Acres of Land with Building situated at Site No. R-44, SIPCOT, Perundurai, both the properties vested with M/s Bannari Amman Spinning.
This acquisition will improve the synergies of both companies in terms of customers and this will be a great support for the core business of S.P. Apparels. The said transaction is expected to be completed by February 28, 2025.
S.P. Apparels is a leading manufacturer and exporter of knitted garments for infants and children in India.
