A Filipino group acquired an Australian active wear brand, according to The Independent Investor.
The Independent Investor reported that “TriVantage Holdings Pte Ltd., a Singapore-registered special-purpose vehicle jointly owned by mostly Philippine-based investors and former consumer brand executives, recently acquired athletic wear brand 2XU from L Capital Ironman Pte. Ltd.”
The article revealed that “while the terms of the transactions were not officially disclosed, The Independent Investor discovered a company filing with the Australian Securities and Investments Commission that disclosed that 2XU was sold for US$22 million or Au$34.2 million.
Founded in Australia in 2005, 2XU (pronounced “Two Times You”) is known for its premium performance-focused activewear, particularly compression garments.
“We welcome 2XU’s new ownership group and are excited to work with them to further expand the reach of the 2XU brand,” said Marc Boelen, chief executive of 2XU. “With their support and fresh perspectives, my team and I are looking forward to exploring new growth avenues for this market-leading brand.”
TriVantage Holdings is jointly owned by John Alonte, Eric Manlunas, Angelica Suiza, Willy Au and Harry Markl.
