True Capital, a private equity firm focused on the consumer sector, has acquired Bench International Inc. and NICCE, two leading apparel brands..
**About True Capital**.
True Capital is a global private equity firm with over $2 billion in assets under management. The firm invests in high-growth consumer businesses across a variety of sectors, including apparel, retail, and consumer products. True Capital has a strong track record of success, having invested in over 100 companies and helped them achieve significant growth..
**About Bench International Inc.**.
Bench International Inc. is a Philippine-based apparel company that owns and operates the Bench brand. Bench is one of the most popular apparel brands in the Philippines and has a strong presence in other Southeast Asian countries. The company also has a growing presence in the United States and Europe..
**About NICCE**.
NICCE is a British streetwear brand that was founded in 2014. The brand is known for its high-quality streetwear and has quickly become a favorite among celebrities and fashion influencers. NICCE has a strong presence in the United Kingdom and has recently expanded into other European countries and the United States..
**The Acquisition**.
The acquisition of Bench International Inc. and NICCE by True Capital is a significant development in the apparel industry. The acquisition will allow True Capital to add two strong and growing brands to its portfolio. Bench and NICCE will also benefit from True Capital’s expertise in the consumer sector and its global reach..
The acquisition is expected to close in the second quarter of 2023. Financial terms of the transaction were not disclosed..
**Implications for the Apparel Industry**.
The acquisition of Bench International Inc. and NICCE by True Capital has several implications for the apparel industry. First, it signals the continued consolidation of the apparel industry. As private equity firms continue to invest in apparel companies, the industry is likely to become more concentrated..
Second, the acquisition highlights the growing popularity of streetwear. NICCE is one of the most popular streetwear brands in the world and its acquisition by True Capital indicates that streetwear is becoming a major force in the apparel industry..
Finally, the acquisition suggests that True Capital is betting on the growth of the global apparel market. The apparel market is expected to grow significantly in the coming years and True Capital is positioning itself to capitalize on this growth..
**Conclusion**.
The acquisition of Bench International Inc. and NICCE by True Capital is a significant development in the apparel industry. The acquisition will allow True Capital to add two strong and growing brands to its portfolio. Bench and NICCE will also benefit from True Capital’s expertise in the consumer sector and its global reach. The acquisition is expected to close in the second quarter of 2023..
