Content area
Full Text
On the same day Vice President Kamala Harris announced nearly $1 billion of additional business investment into sourcing and production into Central America, Intradeco Holdings, a manufacturer of casual clothing and thermal underwear, announced it had acquired competitor Indera Mills.
The purchase completes the merger of Indera Mills’ extensive business experience and Intradeco’s more than 40 years of manufacturing in Central America for customers in the U.S., Canada and Mexico.
John Willingham, owner of Indera Mills, which says it has 5,000 U.S. retail clients, will continue in his current role as president of Indera, Intradeco Holdings wrote in a press release.
“We at Indera Mills are excited to become part of Intradeco,” Willingham said. “For 109 years, our family-owned company has built a successful business based on integrity, commitment and hard work. These important values align with those of Intradeco. Together, we will build a thermal underwear business second to none in the world.”
Related Stories
[Image omitted]
Topics Columbia Sportswear Stays Ahead of Red Sea Disruptions
[Image omitted]
Denim Target Plans First Chainwide Denim Take Back Event
It’s a deal Luis Marquina, COO of Miami-based Intradeco, said he’d been eying for some time.
“They have been a base layer business for many years and we have been one of the largest producers of thermal underwear,” Marquina told Sourcing Journal. “John decided finally to join forces with us and we’re excited. He has been in the thermal and base layer business and knows the market really well. Between the two of us we’ll just get stronger.”
Growing interest in the CAFTA region comes after several pandemic-disrupted years of supply chain delays plaguing manufacturing in and shipments from Asia, where much of the world’s clothing and shoes is made.
Harris’ Call to Action for Northern Central America plan, designed to encourage near-shoring, and strengthen sourcing and manufacturing partnerships in the Americas—and alleviate some of the flow of illegal immigration at the U.S. border with Mexico—announced commitments from private businesses to invest $585 million of the $950 million total to the benefit of the apparel and textile industry. That brings the total investment since the program began in May of 2021 to $4.2 billion. Gap last year committed to grow its Central American sourcing...