Li & Fung, the Hong Kong-based supply chain manager, announced today that it has acquired a rival trading company. The acquisition is expected to bolster Li & Fung’s presence and capabilities in the global sourcing arena.

The company being acquired was not named in the press release. However, sources familiar with the deal indicate that it is a significant player in the apparel and consumer goods sourcing market.

“This acquisition aligns with our strategic goals of expanding our global reach and enhancing our service offerings,” said William Fung, Chairman of Li & Fung. “We are confident that this transaction will create significant value for our shareholders and our clients.”

The financial details of the transaction were not disclosed. Li & Fung stated that the acquisition is subject to customary regulatory approvals and is expected to close in the coming months.

About Li & Fung

Li & Fung is a global supply chain manager specializing in sourcing, production, and logistics. The company works with retailers and brands around the world to deliver products from Asia to consumers worldwide.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. These statements are based on current expectations and beliefs and are subject to change. Actual results may differ materially from those expressed or implied in these statements.