Invista, one of the world’s largest producers of polymers and fibers and owner of the Lycra spandex fiber and Coolmax fabric brands, has acquired the assets related to the specialty polyester products sector for apparel end uses of Advansa, a leading European polyester fiber producer.
This story first appeared in the September 24, 2013 issue of WWD. Subscribe Today.
The acquisition includes reversion of Advansa’s licensed rights in greater Europe to the Coolmax and Thermolite brands, and acquisition of Advansa’s Thermocool brand, along with all related technologies and key staff. Invista said the agreement represents its long-term commitment to the differentiated fiber and apparel industries. Terms of the deal were not disclosed.
Prior to this transaction, Advansa had license rights to use the Coolmax fabric and Thermolite fabric trademarks in Europe, the Middle East and Africa through a licensing deal with Invista. Now, Invista said it will be able to market and promote this portfolio of brands and technologies globally, allowing business development for all clients in the apparel textile chain to be more effective and efficient.
“The new unified global business in specialty polyester gives Invista’s clients an outstanding spectrum of branded technologies to choose from, encompassing both the warm and cool fabric spaces with the Thermolite and Coolmax brands, respectively, and the Thermocool brand will enhance our specialties technology portfolio,” said Dave Trerotola, president of Invista Apparel.
The transaction does not include Advansa’s branded home textiles fiberfill business, its specialty-fiber businesses for nonwovens and paper industries, or its manufacturing plant in Germany.
Key staff and consultants involved in the Advansa business have been hired and engaged by Invista, and sales and critical business support process are already operational. Terms of the acquisition were not disclosed.
Invista, an independently managed, wholly owned subsidiary of Koch Industries Inc., also owns the Cordura, Stainmaster and Antron brands. It manufactures nylon, spandex and polyester used to produce clothing, carpet, car parts and other products. Headquartered in Wichita, Kan., Invista operates in more than 20 countries and has about 10,000 employees.