KUALA LUMPUR: Xidelang Holdings Ltd
(XDL), which designs and sells sports and leisure apparels, plans to venture into apparel manufacturing.
The company, which also makes sports and leisure shoes, told Bursa Malaysia that it had signed a heads of agreement with Jinjiang YangSen Garments Co Ltd to acquire the latter’s existing business and undertakings, including all of its assets and certain agreed liabilities.
Based in Quanzhou, Fujian Province, Jinjiang YangSen designs, manufactures, distributes and markets apparels on an original design manufacturing basis for internationally-recognised brands such as Primark, Mizuno, Joma, Killtec, NewYorker and Admiral. The apparels are distributed to international markets including the United States, Europe, UK, Turkey and Brazil.
XDL said the proposed acquisition was subject to a legal, financial and commercial due diligence to be conducted by XDL in respect of Jinjiang Yangsen’s assets, intellectual properties, contracts, distribution network, business and certain agreed liabilities.