Gildan Activewear Inc. thinks it has found a good fit, spending $7-million for Buffalo Shirt Factory Inc. to increase its manufacturing capabilities in the Western Hemisphere.
The Montreal-based clothing manufacturer announced on Tuesday its acquisition of the Clarence, N.Y.-based screen-printing company's assets and its operating affiliate in Honduras.
Gildan underscored a push in the apparel industry from global consumer brands for supply chain partners closer to home.
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"Such customers are increasingly seeking to consolidate their sourcing with large-scale manufacturers which are strategically located in the Western Hemisphere, which can be trusted to ensure their brand reputation for product quality and which are committed to the highest standards of corporate social responsibility in their vertical manufacturing operations," the company said.
New Buffalo provides screen printing and decoration of apparel for global lifestyle and athletic brands.
The closing of the transaction is expected soon, the company said.