June 14 2021 – Leusden, the Netherlands, HVEG Fashion Group (“HVEG” or the “Company”), announced today that an agreement has been reached with the Dutch family office Trigentis to acquire the majority of the shares of the Company, subject to approval by the Dutch competition authority. The shares will be acquired from the management, ABN AMRO Corporate Investments and Rabo Investments. After the acquisition, the management will retain a substantial interest and founder Roger Horsten will remain involved in the Advisory Board.
Founded in 1989, HVEG consists of a group of internationally operating wholesales companies in fashion specializing in the development, design, sourcing and sale of a broad range of private label clothing for men, women, children, babies, socks and underwear. In addition, accessories and optics (glasses and lenses) are also an important specialism within the group and besides private label, HVEG is engaged in brand activities and licenses such as Bamboo Basics, Brams Paris, Zense and Twinlife, among others.
With a team of approximately 200 employees in Europe, 100 employees in Asia and a net turnover of € 120 million, they are committed daily in offering commercial and sustainably produced collections. HVEG’s mission is to create added value and partnerships that contribute to the success of their customers.
Mike van Snek, CEO of HVEG Fashion Group, comments:
“HVEG has grown into a solid and reliable one-stop shop outsource partner with the sole purpose of fully unburdening our customers. With our new shareholder, we will continue to build on our strong fundament and grow organically with our key customer partners and new customers throughout Europe. HVEGs growth strategy remains unchanged but with the arrival of the new shareholder, we will actively consider acquisition opportunities as they arise.”
At HVEG, sustainable entrepreneurship forms an important part of its strategy. With sourcing offices in China, Bangladesh and Hong Kong, the company only works with third party manufacturers and suppliers who are committed to its Code of Conduct and the sustainable initiatives the company supports. To this end, HVEG is amongst others, a participant in the Amfori Business Social Compliance Initiative (BSCI), has signed the Accord on Building & Fire Safety in Bangladesh and is a member of The Leather Working Group. Both the Code of Conduct and the Sustainability Report are published on the company’s website https://en.hvegfashiongroup.com/csr/ .
