KEY POINTS:
The iconic New Zealand brand Swanndri has been bought by Christchurch apparel company Longbeach Holdings for an undisclosed sum.
Longbeach, fully New Zealand owned, is an apparel supply specialist with operations in New Zealand, Australia, South Africa, UK and China.
It has been working with Swanndri for the past two years including developing new innovations in fabrications and styling.
Swanndri chairman Bryan Pearson, said the board and management of Swanndri had spent the past four years repositioning and growing the business.
Two years ago Swanndri, which brands itself "a New Zealand legend,", decided to shut its Timaru factory and manufacture in China for economic reasons.
"We all felt the time was right for a major company like Longbeach to come in and take Swanndri to the next level," Mr Pearson said.
"Longbeach has the expertise and infrastructure to support further growth of this great kiwi brand in New Zealand and international markets."
Longbeach chairman, Ken Sparrow, said it was a great deal for both companies and the Swanndri.
- NZPA
