Pearl Global Industries Limited, one of India’s largest garment exporters has announced that its wholly owned subsidiary at Hong Kong namely, Pearl Global (HK) Limited has acquired 9,00,860 equity shares representing 52.11% equity capital of Bangladesh based, Alpha Clothing Limited for a consideration of USD 1.05 million on 21st April, 2022. This acquisition will be funded through internal accruals.
Alpha Clothing Limited (Alpha) commenced its operations in the year 2013 with a modest workforce of 150 people and 100 machines. With efficient production processes, it has currently grown to a workforce of 2,100 people, 1,000 sewing machines, and a capacity of 8 million pieces a year. Alpha was a part of the approved facilities for outsourcing.