Morito Co., Ltd, a marketer of apparel fasteners said it has acquired Scovill Fasteners, which too is a producer of a diverse range of high-performance fasteners for various apparel and industrial markets.
Founded in 1908, Morito is based in Osaka, Japan and is the world’s second-largest supplier of metal clothing fasteners.
Scovill Fasteners, founded in 1802, too is one of the world’s largest manufacturers of apparel and light industrial fasteners and will now operate as a subsidiary of Morito.
Scovill offers a full range of service and support from product design and delivery to application to various markets including jeanswear, infantwear, workwear, military, sporting goods and marine.
“Scovill Fasteners is an important part our global growth strategy, and will be a strong asset in positioning Morito for the future,” Takaki Ichitsubo, President at Morito said.
He added, “This acquisition is critical to accelerating our strategy of expanding our revenue base and market position outside of Japan and it brings strong benefits to both Morito and Scovill Fasteners.”
Craig Stoudt, CEO of Scovill Fasteners, said, “The significant improvements made across all functional areas of Scovill’s business have brought our performance to a new level.”
“We are committed to continuing to exceed the expectations of our customers, suppliers, employees and other key stakeholders. Our organization is excited about our future with Morito,” he informed.
