Cap America (PPAI 111597, S10), headquartered in Fredericktown, Missouri, has announced the acquisition of Wear-A-Knit, a Minnesota-based producer of knitwear for the promotional products and sporting goods industries.
The Acquisition
• The terms of the acquisition were not disclosed.
• The announcement merges two companies with a combined 85 years of experience in knit production in the U.S.
• Founded in 1977, Wear-A-Knit has previously had two major expansions of its own, including the company’s purchase of Stitch-It Designs.
Background
Prior to the acquisition, Cap America already had strong knit cap production capabilities. It operates the largest knit production facility in North America and offered over 20 different knit styles that include both in stock and fully customizable options.
• The move marks the first major acquisition for Cap America since announcing Mark Gammon as its new CEO in December.
• Cap America earned an Award of Merit in the PPAI Pyramid Awards’ recently released Supplier Star honors.
What They’re Saying
• “We are excited to expand our company reach and believe this purchase will allow us to better serve both Cap America and Wear-A-Knit clients by increasing our production capacity,” Cap America CEO Mark Gammon says.“We will continue to develop our USA-made knit department, bringing even more products and styles to our customer base.”
• President and Owner of Wear-A-Knit, Dave Leslie says, “We take great pride in the quality of the items that we produce and the services we offer, and I feel confident that Cap America will continue that standard of excellence moving forward.”
