SHANGHAI--(BUSINESS WIRE)--Shangying Global Co., Ltd. (600146: Shanghai Stock Exchange) announced today it has entered the U.S. market by purchasing Oneworld Star International (OSI), a leading global apparel manufacturer, designer, and merchandiser of fashion for missy, juniors and kids for $280 million USD. This transaction has created a platform with a market capitalization of $2.4 billion USD, which will allow Shangying Global Co., Ltd. to become a significant player for further acquisitions. The purchase, effective as of Oct. 10, 2016 includes the following companies:
Apparel Production Services (APS)
APS, headquartered in Chatsworth, Calif. with production facilities in Latin America, provides design and manufacturing for high-performance active apparel and sportswear for leading brands such as Under Armour.
Unger Fabrik/Oneworld Apparel (UOW)
Headquartered in Los Angeles, UOW is a top producer of on-trend fashion reaching a diversified customer base through multiple retail channels. UOW designs and merchandises apparel under a number of well-known and popular brands, including One World, Weavers, RAD Clothing and Rules of Etiquette.
Star Group (Star)
Star, jointly headquartered in Hong Kong and Shanghai, is a diversified manufacturer and designer of apparel, with robust supply chain capabilities and a global distribution network.
“OSI is a vertically integrated group and this transaction provides Shangying Global Co., Ltd and its subsidiaries financial strength and stability by diversifying its offerings and allowing the company to make important business decisions to compete more effectively in the global marketplace,” says Yongbin Luo (Rainbow), Chief Executive Officer of OSI.