SVP WORLDWIDE ACQUIRES MANUFACTURING BUSINESS OF JAGUAR INTERNATIONAL CORPORATION
LAVERGNE, Tenn., March 30, 2022 /PRNewswire/ — SVP Worldwide, the global leader in home sewing machines, announces the acquisition of the sewing machine manufacturing operations and product engineering organization of Jaguar International Corporation. The establishment, based in Vietnamis one of the largest domestic sewing machine factories in the world.
The acquisition will strengthen SVP Worldwide’s supply chain and create the capacity needed to support the growth of the company’s SINGER®, HUSQVARNA VIKING® and PFAFF® brands. The demand for home sewing machines has grown over the past decade and has grown even more during the pandemic. SVP Worldwide has outpaced industry growth and steadily gained market share through the systematic execution of its strategy, including significant investments in the business which accelerated after the acquisition of SVP Worldwide by Platinum Equity in 2021. As a result, the company has actively sought to strengthen its manufacturing footprint. .
“Expanding our manufacturing capabilities will help us keep pace with the strong demand for our products,” said SVP Worldwide CEO. Carl Martin Lindahl. “The acquisition will also allow us to optimize production at each site in our manufacturing network and thus introduce new designs more efficiently and delight consumers by bringing our innovations such as artificial intelligence into sewing machines. , cloud-based operating systems and voice control to more products in our product portfolio”.
The acquired businesses were established in 2007 and include a modern and profitable sewing machine manufacturing plant, strategically located in the north Vietnam. The factory produces computerized sewing machines, mechanical sewing machines, sergers and spare parts. The acquisition includes the plant and associated warehouse, all current employees as well as the entire engineering team of Japan. In addition, the acquisition includes the entire product portfolio manufactured at the site and associated intellectual property. The plant currently supplies Jaguar International Corporation as well as a range of third party customers and will continue to do so under the ownership of SVP Worldwide.
SVP Worldwide, doing business through SVP-Singer Holdings, Inc. and its affiliates, is the world’s largest consumer sewing machine company, accounting for more than one in three sewing machines sold in the world. The company and its three iconic brands – SINGER®, HUSQVARNA VIKING® and PFAFF® – have collectively delighted consumers for more than 460 years. These premium brands and products are considered the choice of serious sewers and novice crafters. The SINGER®, HUSQVARNA VIKING® and PFAFF® brands each have a distinct heritage and following around the world. SVP Worldwide has facilities around the world to design, manufacture, sell and support the world’s best sewing machine brands. With global headquarters located nearby Nashville, Tennessee., USA, the company also has 171 retail stores in 36 US states and numerous service centers located coast to coast. Internationally, SVP Worldwide has regional headquarters and sales offices in Milan, Italyand Mexico City, Mexico. Together, the brands reach consumers in more than 180 countries on five continents. To learn more, visit www.svpworldwide.com.
SOURCE Please World