SVP WORLDWIDE ACQUIRES JAGUAR INTERNATIONAL CORPORATION'S MANUFACTURING OPERATIONS
PR95251
LA VERGNE, Tenn., March 31, 2022 /PRNewswire=KYODO JBN/ --
SVP Worldwide, the global leader in household sewing machines, announces that
it has acquired Jaguar International Corporation's sewing machine manufacturing
operations and product engineering organization. The facility, based in
Vietnam, is one of the largest factories of household sewing machines in the
world.
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The acquisition will strengthen SVP Worldwide's supply chain and create the
needed capacity to support growth for the company's SINGER(R), HUSQVARNA
VIKING(R), and PFAFF(R) brands. The demand for household sewing machines has
grown over the past decade and further expanded during the pandemic. SVP
Worldwide has outpaced the industry growth and steadily gained market share
through systematic execution of its strategy including significant investments
in the business which accelerated after Platinum Equity acquired SVP Worldwide
in 2021. As a result, the company has actively been seeking to strengthen its
manufacturing footprint.
"Expanding our manufacturing capabilities will help keep pace with the strong
demand for our products", said SVP Worldwide CEO Carl-Martin Lindahl. "The
acquisition will also allow us to optimize production at each site in our
manufacturing network and thereby introduce new models more efficiently and
delight consumers by bringing our innovations such as artificial intelligence
in sewing machines, cloud-based operating systems, and voice control to more
products in our product portfolio".
The acquired operations were established in 2007 and include a modern,
cost-effective sewing machine manufacturing operation, strategically located in
northern Vietnam. The factory produces computerized sewing machines, mechanical
sewing machines, sergers, and spare parts. The acquisition includes the factory
and associated warehouse, all current employees as well as the full engineering
team in Japan. In addition, the acquisition includes the entire product
portfolio produced at the site and the associated intellectual property. The
factory currently supplies Jaguar International Corporation plus a range of
third-party customers and will continue to do so under SVP Worldwide's
ownership.
SVP Worldwide, doing business through SVP-Singer Holdings, Inc. and its
affiliates, is the world's largest consumer sewing machine company, accounting
for more than one out of every three sewing machines sold globally. The company
and its three iconic brands – SINGER(R), HUSQVARNA VIKING(R), and PFAFF(R) –
have collectively delighted consumers for more than 460 years. These premium
brands and products are regarded as the choice for serious sewists and novice
crafters. The SINGER(R), HUSQVARNA VIKING(R) and PFAFF(R) brands each have a
distinct heritage and following globally. SVP Worldwide has facilities around
the globe to design, manufacture, sell and support the world's top sewing
machine brands. With global corporate headquarters located near Nashville,
Tenn., USA, the company also has 171 retail stores in 36 U.S. states and
numerous service centers located from coast to coast. Internationally, SVP
Worldwide has regional headquarters and commercial offices in Milan, Italy, and
Mexico City, Mexico. Combined, the brands reach consumers in more than 180
countries on five continents. To learn more, visit www.svpworldwide.com.
SOURCE SVP Worldwide
CONTACT: Lori Tesoro, lori.tesoro@svpworldwide.com
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