Meridian Brands has made its move and bought HMS Productions, a mainstay in the business of designing, sourcing, manufacturing and distributing branded and private label women’s apparel.
Although the private label apparel business has been flying under the radar for some time as companies push brands more than ever and focus on going direct to consumer, there is clearly still opportunity in the category.
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And investor Matthew Bruderman, chairman of Sandy Hill Investors and vice chairman of Meridian, sees growth ahead.
“We are at a defining moment in our company,” Bruderman said. “Bringing together top leadership, vision and a proven track record for developing well-made, great fitting clothing at a great value. Meridian Brands clearly resonates with our consumers and retail partners, selling tens of millions of units per year through the world’s largest retailers. With the pandemic in our rearview mirror, new technology and top management, we now have the necessary framework to take Meridian Brands to a new level of growth.”
Jean Lewis, chief financial officer of Meridian, added: “This partnership is an important step in our medium long-term growth strategy. We welcome the opportunity to partner with Matt Bruderman and the Sandy Hill Investors team. Finding an investment partner with strong industry knowledge, and operational and omnichannel expertise is an asset to the company as we leverage our current platform to take Meridian to the next level.”
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