Intradeco acquires Indera Mills
Intradeco Holdings announced on Monday its is acquiring thermal underwear supplier Indera Mills, as the apparel maker looks to make further inroads in the undergarment market.
John Willingham, owner of Indera Mills, will continue in his current role as president of Indera, which now forms part of Intradeco Apparel.
The financial terms of the transaction were not disclosed.
Founded in 1914, Indera Mills is the largest producer of thermals in the United States with over 5,000 retail customer is the U.S. The company is a vertically integrated operation with production facilities in the United States and Mexico, and produces both Indera and Coldpruf branded products.
“We at Indera Mills are excited to become part of Intradeco," said Willingham. "For 109 years, our family-owned company has built a successful business based on integrity, commitment and hard work. These important values align with those of Intradeco. Together, we will build a thermal underwear business second to none in the world."
In operation for forty years, Intradeco is a global vertical-manufacturing company supplying casual clothing and thermal underwear to major retailers in the United States, Mexico, and Canada.
“We are very excited to acquire Indera. This acquisition will enable us to continue to grow our existing expertise while at the same time creating great new synergies and value by joining Indera’s long history and expertise with Intradeco’s capabilities and strength," said Luis Marquina, Intradeco chief operating officer.
MMG Advisors, a New York- headquartered investment banking firm, represented Intradeco and helped structure and close the transaction.
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