Sri Lanka’s largest export firm MAS Holdings is buying US-based apparel maker Acme-McCrary. With this acquisition MAS hopes to get a foothold in the western hemisphere and increase the degree of speed and flexibility with which it engages with its customers. Acme-McCrary produces tights, sheers and other seamless apparel. The company produces legwear and active wear for large US retailers. Acme-McCrary was the sole producer of the popular Spanx brand of hoses and is still engaged in product development for the brand. MAS had a small account of Spanx for a few years now.
MAS will expand Acme-McCrary’s manufacturing capacities and create at least 133 new jobs, while retaining the current jobs. MAS employs over 80,000 perople across over 45 facilities in 15 countries and exports products mainly to the US and Europe. The facilities include design offices, apparel and component manufacturing plants, and private industrial parks. MAS also provides technology solutions to the apparel and footwear industry.
The company has been working to integrate technology into clothing, partnering with startup companies in the Silicon Valley region of California and in New York in the fields of wearable technology and health and wellness.