Polyconcept, the world’s leading promotional products supplier, has completed the divestment of its Swedish textiles subsidiary, PF Jersey AB. PF Jersey is a Sweden and Latvia based manufacturer of high quality private-label knitted garments. The company had revenues of approximately SEK 29 million in 2010 and currently employs 120 people. The divestment will not have a significant impact on the Polyconcept Group’s operating profit in 2011.
‘The divestment of PF Jersey is a step for Polyconcept towards rationalizing our business portfolio, and we are very happy to have found a good home for this activity. I would like to thank the PF Jersey team for their contribution to Polyconcept, and we wish both PF Jersey and Unibrands great success in the future’ says Philippe Varnier, CEO of Polyconcept Group.