Hong Kong based buyout firm Affinity Equity Partners is in advanced talks with Brookfield Asset Management to acquire Hong Kong-based clothing label maker Trimco Group, valuing the company as much as $1 billion, Bloomberg has reported.
An agreement could be reached in the next few weeks, the report said quoting sources.
Affinity has been exploring a sale of Trimco earlier this year after receiving takeover interest. The source said Brookfield has outbid other private equity firms for the deal.
Founded in 1978, Trimco makes clothing labels, radio frequency identification tags, packaging and trimming products and store decorations for a client base of more than 800 brands and 8,600 manufacturers globally, according to its website.
Affinity bought Trimco from Partners Group for $520 million in 2018. The firm has $14 billion of assets and funds under management.
