S P Apparels Ltd (SPAL) has signed a definitive agreement to acquire Young Brand Apparel Private Limited (YBAPL), a subsidiary of Bannari Amman Spinning Mills, for Rs 223 crore. The acquisition includes a garment unit in Palladam and land/building in SIPCOT. SPAL will acquire a 51.33% stake from Bannari Amman and a 49% stake from joint venture partners. YBAPL, incorporated in 2006, is a manufacturing and export company producing intimate wear for brands like American Eagle, Jockey International, Marks & Spencer, and Benetton. SPAL aims to diversify its product offerings, expand its customer base, and enhance manufacturing capacity with this acquisition.
S P Apparels to Acquire Young Brand Apparel for Rs 223 Crore
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