Honduras-based Grupo Karim's — a vertical manufacturer of private-label products with yarn spinning, chemicals and apparel manufacturing operations in Mexico, Central America and the Caribbean — has acquired Cone Denim Mills Nicaragua from Greensboro, N.C.-based Cone Denim, a division of International Textile Group (ITG), for $35 million. The acquisition adds woven fabric and garment production to Grupo Karim's vertical knit operations.
Grupo Karim's will restart operations at the state-of-the-art denim manufacturing facility — which has spinning through finished fabric production capabilities and an annual production capacity of 28 million yards — under the new name Pride Denim Mills.
According to Grupo Karim's, the acquisition makes it the only company in the region to be completely vertically integrated from yarn to finished garments in cotton, synthetic sportswear, jeans and twill bottoms.
