June 07, 2024
Platinum Equity Portfolio Company Hop Lun Acquires P.H. Garment
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LOS ANGELES and HONG KONG (June 6, 2024) – Platinum Equity portfolio company Hop Lun, one of the world’s largest designers and manufacturers of intimate apparels, announced today the acquisition of P.H. Garment.
Headquartered in Hong Kong, P.H. Garment is an innovative private label manufacturer of high-quality bras, shapewear and performance-driven active wear for world renowned fashion brands.
The company has three manufacturing facilities in Bangladesh and China and provides a full range of design and production services, including expertise producing bonded products (fusing fabrics seamlessly using heat or adhesive).
We are continuing to seek opportunities for Hop Lun to expand and diversify its capabilities, increase scale and add more value for its customers. We are working with Erik and the company’s leadership team to identify and pursue additional opportunities for growth, both organically and through strategic M&A.
“We welcome the P.H. Garment team to the Hop Lun family,” said Erik Ryd, Founder and CEO of Hop Lun. “We believe our businesses are highly complementary are excited to work together leveraging our combined expertise to give even better service to our customers. P.H. Garment’s expertise in bonded products, in particular, will open new avenues for growth at Hop Lun.”
Eddie Wong, Founder and Executive Director of P.H. Garment said: “The P.H. Garment team is excited to join Hop Lun and we look forward to leveraging Hop Lun’s resources, design capability and manufacturing scale to expand our services and solutions for our customers.”
Based in Hong Kong, Hop Lun employs more than 26,000 people and has manufacturing operations in Bangladesh, China and Indonesia. The company produces products for many of the world’s largest global retailers as well as for its own in-house brands.
PH Garment is the second add-on acquisition Hop Lun has completed in the last six months. In December 2023 Hop Lun acquired Rainbow West Apparel.
“We are continuing to seek opportunities for Hop Lun to expand and diversify its capabilities, increase scale and add more value for its customers,” said Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie in a joint statement. “We are working with Erik and the company’s leadership team to identify and pursue additional opportunities for growth, both organically and through strategic M&A.”
Latham & Watkins LLP provided legal counsel to Hop Lun on the acquisition of P.H. Garment.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.
About Hop Lun
Established in 1992 and headquartered in Hong Kong, Hop Lun is the leading designer and manufacturer of intimate apparels, and is the largest global provider of bra solutions. It employs over 28,000 people across its global operations in Bangladesh, Indonesia, China and Hong Kong.
About P.H. Garment
Founded in 1988 in Hong Kong, P.H. Garment has grown into a premier private label manufacturer for innovative high-quality bras, shapewear and performance driven active wear through pioneering manufacturing know-how, a robust talent pool and strong customer relationships. The company has three manufacturing plants in Bangladesh and China.
