MANUFACTURING | TEXTILES
Velcro Cos. Acquires Fastener and Elastic Web Companies
Velcro Companies acquired two Belgium-based companies specializing in hook-and-loop fasteners and elastic and rigid webbing in a move the company says will broaden its product portfolio, expand its presence in Europe, and facilitate research and development “to speed the pace of product innovations.”
Alfatex manufactures hook-and-loop fasteners in the medical, automotive and industrial sectors, and Gevaert manufactures elastic and rigid webbings for braces, belts and elastic waistbands for the apparel industry. Both companies are based in Deinze, Belgium. Terms of the deals were not disclosed.
“We are rapidly building global capabilities to reach greater scale and efficiency while at the same time strengthening our local presence to remain close to customers,” said Fraser Cameron, president and chief executive officer of Velcro Companies. “This approach will help us respond to customer needs, spot opportunities for new product innovations, and improve our ability to deliver for customers quickly and efficiently.”
This is the third acquisition for Velcro Companies, which purchased Sapiranga, Brazil–based distributor Jore Comèrcio e Representacoes LTDA in 2014, which expanded the company’s presence in Latin America.
“With three acquisitions in the past 18 months, Velcro Companies has emerged as the leading independent company in the global fastening industry, with a focused strategy to use our agility, creativity and proximity to customers to drive innovation and growth,” Cameron said. “Our expanding global scale enables Velcro Companies to sustain significant investment in research and development. Our opportunities lie not only in providing better solutions than any of our corporate competitors, but we are uniquely positioned to open entirely new categories of products. Alfatex and Gevaert have strong reputations for innovation and customer insight that will help us reach this goal.”
With U.S. headquarters based in Manchester, N.H., and offices around the world, Velcro Companies owns more than 400 patents and trademarks, including the Velcro trademark, which is registered throughout the world.
For more information, visit www.velcro.com.