Spanish Dogi acquires Knitwear Treiss
Dogi a warp knitted stretch fabric manufacturer acquires Knitwear Treiss, a women’s knitwear manufacturer based in Mataro, near Barcelona. Treiss designs and produces a range of womenswear and counts retail giant Inditex, owner of the Zara brand, amongst its customers. Last year, it posted a profit of EUR 3 million on the back of a EUR 22 million turnover
Dogi was acquired by Sherpa Capital in 2013 and the investment firm, which has paid EUR 7 million for Treiss, said last year that it was initiating a drive towards further growth that would include acquisitions and joint ventures.
Sherpa sees the acquisition of Treiss as an ideal opportunity to move further down the knitwear supply chain. The transaction also includes an additional variable payment, subject to business performance, over the next two years of EUR 4.5 million. Sherpa has spent the past couple of years attempting to turnaround Dogi’s fortunes.
Most recently, Dogi, which specialises in products for the lingerie, swimwear and sportswear sectors closed its first quarter with an operating profit (before depreciation and amortisation, EBITDA) of EUR 73000, the first positive EBITDA since the first quarter of 2013.
Dogi has commercial offices in Spain, USA and Hong Kong, as well as various exclusive agreements with representatives in other parts of the world.