Showa Acquiring Best Manufacturing in Glove Merger
The combination of Showa Glove and Best Glove, announced Aug. 16, will create "a global leader in glove manufacturing and product development," the companies said in a joint news release. Showa, based in Himeji, Japan, will acquire Best's operations and subsidiaries in a transaction expected to close within the next 45 days, with Best remaining a stand-alone company with headquarters in Menlo, Ga., according to the release. Showa's U.S. operation is based in Seattle.
The acquisition will create one of the world's largest hand protection manufacturers with production facilities in the United States, Japan, Guatemala, Vietnam, Malaysia, and Canada, the two said. Bill Alico, president and chief executive of Best's parent, Tillotson Corp., will be chief operating officer of the new company. "Best and Showa share a vision. We both are committed to developing the most advanced technology in hand protection," Alico said in the release. "By combining our companies' complementary, best-in-class products and technologies, we expect to create a powerhouse in the hand protection market -- one that has the potential to dramatically change the industry."
Showa President Yasunori Miura and the acquisition "is a solid decision which serves the best interest of customers, employees, and the communities we serve." For more information, visit www.showaco.com and www.bestglove.com.