Li & Fung Buys U.K. Private Label Producer

Li & Fung Buys U.K. Private Label Producer

li & Fung Ltd. extended its U.K. reach Thursday, acquiring Manchester-based private label producer Visage Group Ltd. for as much as 173 million pounds, or $266.9 million at current exchange.

Bruce Rockowitz, president of the Hong Kong sourcing giant, said the deal would generate business with the majority of leading British retailers.

This acquisition dramatically strengthens LF Europe's growth platform, Rockowitz said. It will add substantial scale to our existing operation and further our objective of developing a significant...