Sock Works Takeover

Sock Works Takeover

New Zealand Company Sock Works, a leading manufacturer of socks in Australasia, announced today it had paid an undisclosed sum for Southern Alps Socks Limited (In Receivership).

Christchurch, NZ, August 17, 2009: Southern Alps Socks designs, manufactures, and sells socks throughout New Zealand and Australia. The business went into receivership in April 2009 following the collapse of its parent company Lane Walker Rudkin Industries Limited (In Receivership).

Sock Works is a 100% New Zealand owned family business started in 2001. In 2004 Sock Works acquired West Coast Socks when the Buller District Council liquidated the Company. Specialising in medium and coarse gauge knitting, Sock Works provides contract knitting services for clients, along with marketing its own lines branded ‘Sock Works’ and ‘Buller’.

Sock Works Managing Director, Tracey McLean, said “The strong synergies between
Southern Alp Socks and Sock Works will result in one of the largest sock manufacturers in Australasia offering a comprehensive range of products to cater for all customer requirements.”

Tracey McLean states “It has been important throughout the sale process to ensure we maintained the inherent value of the business and its brands, and most especially its staff and manufacturing capability. We will be working hard in the coming weeks to talk with all customers and assuring them supply will continue uninterrupted.”

Sock Works will make certain the company and staff that produced the original “Red Sock” worn by Sir Peter Blake which became the talisman for the 1995 win of the Americas Cup by New Zealand, will continue to be a market leader.

ends

© Scoop Media