17/02/2003
Jobs creation anticipated after Adria acquisition
New jobs could be created in the North West following the announcement by Northern Ireland-based textile company, Adria Ltd, that they have acquired UK footwear brand Rombah Wallace.
It is expected that product development, marketing and logistics management of the Rombah Wallace brand will be centred in Northern Ireland at existing facilities in Strabane and Campsie. This could result in additional high-quality jobs being created in the North West and discussions with Invest Northern Ireland in recent months are exploring the possible options.
Adria, which was acquired from Charnos plc in May 2002 by the private equity firm, Amicus Partners, has in recent years focused on diversification of its business interests and on the development of higher value added products using advanced technical development and design and an investment driven high-tech manufacturing operation.
Terry McCartney, Adria Chairman, said: "This acquisition fits well with our long-term strategy of creating a portfolio of apparel brands - one of the key strands of the government endorsed KSA Industry Review and its recommendations for the textile sector.
"A exciting new hosiery range under our Charnos brand will be launched in March of this year. We believe there is synergy between footwear and legwear in the market place and we intend to exploit this as we move forward. This footwear acquisition will only serve to consolidate our recent successes".
Norwich-based Rombah Wallace, which has been bought over for an undisclosed sum, has specialised in a range of formal and casual shoes for the men's and ladies markets for over 20 years. Among its customer base are the large retail department store, the John Lewis Partnership, as well as some 270 independent retailers throughout Ireland and the UK.
With manufacturing joint ventures in Colombia and Sardinia, Adria currently employs over 1,100 people at its facilities in Northern Ireland.
(GMcG)
It is expected that product development, marketing and logistics management of the Rombah Wallace brand will be centred in Northern Ireland at existing facilities in Strabane and Campsie. This could result in additional high-quality jobs being created in the North West and discussions with Invest Northern Ireland in recent months are exploring the possible options.
Adria, which was acquired from Charnos plc in May 2002 by the private equity firm, Amicus Partners, has in recent years focused on diversification of its business interests and on the development of higher value added products using advanced technical development and design and an investment driven high-tech manufacturing operation.
Terry McCartney, Adria Chairman, said: "This acquisition fits well with our long-term strategy of creating a portfolio of apparel brands - one of the key strands of the government endorsed KSA Industry Review and its recommendations for the textile sector.
"A exciting new hosiery range under our Charnos brand will be launched in March of this year. We believe there is synergy between footwear and legwear in the market place and we intend to exploit this as we move forward. This footwear acquisition will only serve to consolidate our recent successes".
Norwich-based Rombah Wallace, which has been bought over for an undisclosed sum, has specialised in a range of formal and casual shoes for the men's and ladies markets for over 20 years. Among its customer base are the large retail department store, the John Lewis Partnership, as well as some 270 independent retailers throughout Ireland and the UK.
With manufacturing joint ventures in Colombia and Sardinia, Adria currently employs over 1,100 people at its facilities in Northern Ireland.
(GMcG)
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Amicus acquisition of Adria promises growth
A syndicate led by Chairman Terry McCartney, which includes Amicus Partners, a Northern Ireland private equity company, and other Adria directors, has acquired hosiery company Adria. The company is to embark on a development project with support, including the provision of share capital, from Invest Northern Ireland.
Amicus acquisition of Adria promises growth
A syndicate led by Chairman Terry McCartney, which includes Amicus Partners, a Northern Ireland private equity company, and other Adria directors, has acquired hosiery company Adria. The company is to embark on a development project with support, including the provision of share capital, from Invest Northern Ireland.
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