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.

Logo - https://mma.prnewswire.com/media/1154700/svp_gd_Logo.jpg

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