Tue, 26 Oct 2021

Jerash Holdings Completes Acquisition of MK Garments

ACCESSWIRE
11 Oct 2021, 22:13 GMT+10

FAIRFIELD, NJ / ACCESSWIRE / October 11, 2021 / Jerash Holdings (US), Inc. (NASDAQ:JRSH) (the 'Company' or 'Jerash'), which manufactures and exports custom, ready-made, sportswear and outerwear for leading global brands, today announced that its wholly owned subsidiary, Jerash Garments and Fashions Manufacturing Co., Ltd., has completed the previously announced acquisition of Mustafa and Kamal Ashraf Trading Company (Jordan) for Manufacture of Ready-Made Clothes LLC ('MK Garments'), which operates a 71,000 square-foot apparel manufacturing facility in Amman, Jordan, for approximately $2.8 million in cash.

Jerash took over production at the MK Garments facility and retained its 500 employees in August 2021 and has begun manufacturing products for the Company's customers.

About Jerash Holdings (US), Inc.
Jerash Holdings (US), Inc. manufactures and exports custom, ready-made, sportswear and outerwear for leading global brands and retailers, including Walmart, Costco, New Balance, G-III (which owns brands such as Calvin Klein, Tommy Hilfiger, DKNY, and Guess), American Eagle, and VF Corporation (which owns brands such as The North Face, Timberland, and JanSport). Jerash's existing production facilities comprise six factory units and four warehouses, and Jerash currently employs approximately 5,500 people. Additional information is available at www.jerashholdings.com.

CONTACT:
PondelWilkinson Inc.
Judy Lin Sfetcu or Roger Pondel
310-279-5980
jsfetcu@pondel.com

SOURCE: Jerash Holdings (US), Inc.



View source version on accesswire.com:
https://www.accesswire.com/667486/Jerash-Holdings-Completes-Acquisition-of-MK-Garments

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