Showa Glove of Japan has acquired all of Tillotson Corp.’s Best Glove operations and subsidiaries, according to a purchase and sale agreement jointly announced today.
The transaction is expected to close within the next 45 days. Upon closing, Best will continue to operate as a stand-alone company and will be headquartered in Menlo, Ga., as a division of Showa Glove. Other terms of the deal were not disclosed.
The acquisition creates one of the largest hand protection manufacturers in the world with a wide-ranging product portfolio of glove brands, according to a company press release.
With global production facilities encompassing the United States, Japan, Guatemala, Vietnam, Malaysia and Canada, the companies will be able to manufacture closer to its customers, increase production capacity and operate under a global business model, the press release said.
Bill Alico, president and chief executive officer of Tillotson Corp., will serve as chief operating officer of the new company and will step down from his post at Tillotson.
Showa Glove to acquire Best Manufacturing (8/16)
August 16, 2007