SVP WORLDWIDE ACQUIRES JAGUAR INTERNATIONAL CORPORATION'S MANUFACTURING OPERATIONS
LA VERGNE, Tenn., March 30, 2022 /PRNewswire/ -- SVP Worldwide, the global leader in household sewing machines, announces that it has acquired Jaguar International Corporation's sewing machine manufacturing operations and product engineering organization. The facility, based in Vietnam, is one of the largest factories of household sewing machines in the world.
The acquisition will strengthen SVP Worldwide's supply chain and create the needed capacity to support growth for the company's SINGER®, HUSQVARNA VIKING®, and PFAFF® brands. The demand for household sewing machines has grown over the past decade and further expanded during the pandemic. SVP Worldwide has outpaced the industry growth and steadily gained market share through systematic execution of its strategy including significant investments in the business which accelerated after Platinum Equity acquired SVP Worldwide in 2021. As a result, the company has actively been seeking to strengthen its manufacturing footprint.
"Expanding our manufacturing capabilities will help keep pace with the strong demand for our products", said SVP Worldwide CEO Carl-Martin Lindahl. "The acquisition will also allow us to optimize production at each site in our manufacturing network and thereby introduce new models more efficiently and delight consumers by bringing our innovations such as artificial intelligence in sewing machines, cloud-based operating systems, and voice control to more products in our product portfolio".
The acquired operations were established in 2007 and include a modern, cost-effective sewing machine manufacturing operation, strategically located in northern Vietnam. The factory produces computerized sewing machines, mechanical sewing machines, sergers, and spare parts. The acquisition includes the factory and associated warehouse, all current employees as well as the full engineering team in Japan. In addition, the acquisition includes the entire product portfolio produced at the site and the associated intellectual property. The factory currently supplies Jaguar International Corporation plus a range of third-party customers and will continue to do so under SVP Worldwide's ownership.
SVP Worldwide, doing business through SVP-Singer Holdings, Inc. and its affiliates, is the world's largest consumer sewing machine company, accounting for more than one out of every three sewing machines sold globally. The company and its three iconic brands – SINGER®, HUSQVARNA VIKING®, and PFAFF® – have collectively delighted consumers for more than 460 years. These premium brands and products are regarded as the choice for serious sewists and novice crafters. The SINGER®, HUSQVARNA VIKING® and PFAFF® brands each have a distinct heritage and following globally. SVP Worldwide has facilities around the globe to design, manufacture, sell and support the world's top sewing machine brands. With global corporate headquarters located near Nashville, Tenn., USA, the company also has 171 retail stores in 36 U.S. states and numerous service centers located from coast to coast. Internationally, SVP Worldwide has regional headquarters and commercial offices in Milan, Italy, and Mexico City, Mexico. Combined, the brands reach consumers in more than 180 countries on five continents. To learn more, visit www.svpworldwide.com.
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