June 14, 2021 – Leusden, Netherlands – HVEG Fashion Group (“HVEG”) announced today that an agreement has been reached for the acquisition of the majority of the company’s shares, pending approval from the Dutch Competition Authority. The shares will be acquired from management, ABN AMRO Corporate Investments, and Rabo Investments. After the acquisition, management will retain a significant stake, and founder Roger Horsten will remain involved in the Advisory Board.
Founded in 1989, HVEG consists of a group of internationally operating fashion companies specializing in the development, procurement, and sale of private label fashion, hosiery, and underwear for women, men, children, and babies. Accessories and optics (eyewear and lenses) also form a key part of the group’s expertise, and in addition to private label, HVEG is involved in brand activities and licenses, including Bamboo Basics, Brams Paris, Zense, and Twinlife.
With a team of approximately 200 employees in Europe, 100 employees in Asia, and a net turnover of €120 million, HVEG is committed to offering both commercially viable and responsibly produced collections. HVEG’s mission is to create added value and partnerships that contribute to the success of its customers.
Mike van Snek, CEO of HVEG Fashion Group, explains:
“HVEG has grown into a solid and reliable one-stop-shop outsource partner, with the sole aim of completely relieving our customers of their concerns. With our new shareholder, we will continue to build on our strong foundation and grow organically with our key customer partners and new clients across Europe. HVEG’s growth strategy remains unchanged, but with the arrival of the new shareholder, we will actively consider acquisition opportunities as they arise.”
Sustainable business practices are a key component of HVEG’s strategy. With sourcing offices in China, Bangladesh, and Hong Kong, the company works exclusively with external manufacturers and suppliers committed to its Code of Conduct and the sustainable initiatives it supports. HVEG is a participant in the Amfori Business Social Compliance Initiative (BSCI), has signed the Accord on Building and Fire Safety in Bangladesh, and is a member of The Leather Working Group. Both the Code of Conduct and the Sustainability Report are published on the company’s website at https://hveggroup.com/responsibility/.
