Milliken & Company, on June 11, expanded its offering by agreeing to acquire Polartec. Milliken, with over a century and a half of textile expertise, will benefit from Polartec’s textiles for outdoor, workwear and military apparel.
“Polartec brings a wealth of new and respected outdoor textile expertise to complement Milliken’s strengths,” shared Halsey Cook, CEO of Milliken & Company. “The strategic acquisition broadens our textile capabilities with a product offering to now include fleece and soft-shell outerwear, among others, allowing us to grow in new and exciting spaces.”
Milliken & Company acquired Polartec through its owner Versa Capital Management. Versa acquired the assets of the former Malden Mills in 2007 through the then 101-year-old textile manufacturer’s third reorganization. Working with management, the business was transformed, renaming the company Polartec, reorienting it toward a technology- and innovation-led growth strategy, and revamping the company’s leadership, operations, manufacturing footprint and customer relationships.
“Polartec expands our regional manufacturing reach and grows our technological expertise, enabling us to further deliver innovative performance textiles to the global market,” said Jeff Price, president of Milliken’s Performance and Protective Textiles Division.