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26 Apr 2017

Samil Spinning’s Acquisition of Buhler Quality Yarns Corp.

Yulchon has represented Samil Spinning Co., Ltd. (“Samil”) in its 100% acquisition of Bühler Quality Yarns Corp. (Georgia USA) from Hermann Bühler AG (Switzerland) (“Bühler”).

 

In order to expand its business into the US market, Samil first considered establishing facilities in Vietnam to take advantage of low labor costs. However, due to the Trump administration"s protectionist policies, Samil decided to invest directly in the US where clothing made with domestic yarn is not subject to the hefty 32% tariff.

 

As a key player in the North American yarn market, and with a well-established international distribution network, Bühler Quality Yarns will provide Samil a Western Hemisphere manufacturing base via Bühler Quality Yarn’s spinning facility in Jefferson, Georgia. This highly valuable strategic addition broadens Samil’s global footprint, further establishing its business in the US market and increasing its client portfolio. Furthermore, Samil can now benefit from the Dominican Republic-Central America FTA (DR-CAFTA) by gaining direct access to the South American market.

 

Yulchon advised Samil on all aspects of the transaction, including review and drafting of the bidding documents, conducting due diligence and negotiating the SPA.

 

The Yulchon team was led by partner Ki Young Kim and Raymond Kang.  

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