Friday 30 March 2012

30 March 2012 – Japanese lingerie maker Wacoal Holdings Corp (TYO:3591) on Friday announced it had reached an agreement to take over British sector firm Eveden Group Ltd for GBP152m (USD242.7m/EUR182.1m), including debt.

The Japanese company will use its cash reserves and bank borrowings to pay for the transaction, which is expected to close on 10 April 2012, it said in a statement. The move is part of Wacoal's overseas business expansion strategy.

Northamptonshire-based Eveden sells women's undergarments and swimwear via a sales network of more than 5,000 retailers in over 50 countries, including the UK, other European countries, North America, Australia, Asia among other regions.