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Imprima Reinforces their US Presence
14 February 2018
Imprima S.p.A., the holding company of the multinational group dedicated to textile printing and finishing, announces the acquisition of City Prints and the twin company Premier Fabrics, both American companies specialized in printed textiles.
Imprima Spa, controlled by Wise SGR through the Italian private equity fund Wisequity, now strengthens its strategic positioning, consolidating its global presence as a leading player in the field of printing and textile finishing for international retailers and fashion brands. This is the fifth strategic deal to be finalized.
City Prints and Premier Fabrics,
founded in 1997 and headquartered in New York and Los Angeles, are specialized in textile printing for the programmed collection market. The companies supply printed fabrics, based on proprietary design, to major American retailers such as Walmart, Target and Macy's, to fashion brands such as Ralph Lauren, Calvin Klein and Tommy Hilfiger, and to online retailers such as Amazon. The companies serve retailers and brands through leading private label intermediaries, currently sourcing prints and garment mainly from China.
In the photo: City Prints
As in the case of the previous acquisitions, the brothers Jason and Ryan Borg, co-founders of City Prints and Premier Fabrics, will maintain a leadership role in the management of the companies and become shareholders of IMPRIMA.
"Our entry into the IMPRIMA group is an excellent opportunity to consolidate and increase our commercial positioning in the market,throughtheintroductionofIMPRIMAGroup’sbrandsin heUSmarke and the opening of a digital production facility within the US territory, relying on the technology know-how in digital printing and the financial support that IMPRIMA provides", said Jason and Ryan Borg co-owners of City Prints and Premier Fabrics, which currently show a consolidated turnover of over 23 million dollars.
“With this acquisition, IMPRIMA deals with the US market with the goal of becoming the first textile converter with full digital printing capability in this local market. The current deep crisis of American apparel retailers is pushing the industry to reshape its current supply chain strategy, mainly based on sourcing from Far East, towards a European-like fast fashion model. IMPRIMA, through City Prints and Premier Fabrics, will allow local retailers to leverage the "Made in USA" banner to deliver a great creative experience through a local, reliable partner.", said President Valentina Franceschini, and Executive V.P. Gianluca Boni.
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