S Kumars may buy US-based American Pacific

The board of textile company S Kumars Nationwide will be meeting on November 9 to discuss the acquisition of American Pacific, a US-based home textile company. While the exact deal size is unclear, S Kumars is believed to have valued the company at about Rs 450 crore.

If the deal goes through, it would give S Kumars access to retail outlets in the USA, which could then be utilised for its own brands as well as access to American Pacific's manufacturing facilities in China.

The San Fransisco-based company supplies home, bath and bed products to brands like Liz Clairborne, Nautica and Dockers apart from retailing home textiles under its own brand. It is a major supplier of fashion home furnishings to speciality and department store retailers.

American Pacific has sourcing offices in China, India, Pakistan and Turkey.

S Kumars recently launched its home textile brand - Carmichael House - in India, and plans to open 32 retail outlets by the end of this financial year.

Once the acquisition goes through, it would be the third international acquisition by an Indian company in the home textile space this year. In December, GHCL acquired Dan River, an American home textile company followed by UK-based Rosebys in July.

In another small deal this year, Welspun India picked up 85% in CHT Holdings UK, the holding company of terry towel brand Christy.