Interloop Limited acquired a 64% equity stake in Top Circle Hosiery Mills Co., Inc. to strengthen its operational footprint and expand product offerings in the textile industry.

Target Company Overview

Interloop Limited, a prominent player in the textile industry, recently showcased significant achievements during its 32nd Annual General Meeting held on 24 October 2024 at the Interloop Industrial Park in Faisalabad. Under the leadership of Chairman Musadaq Zulqarnain, the Board reviewed the company's robust financial and operational performance. One of the key highlights was attaining a remarkable 44% female representation on the Board, making Interloop the first publicly listed entity in Pakistan to demonstrate such gender diversity.

In the past year, Interloop has experienced a substantial increase in sales, attributed to several efficiency initiatives. Strategic investments have also been made, including the recent acquisition of a 64% equity stake in Top Circle Hosiery Mills Co., Inc., designed to enhance Interloop's operational footprint in the market. Furthermore, advancements such as the establishment of a sixth hosiery plant, expansions in spun yarn dyeing capabilities, and increased denim production capacity were discussed, reflecting the company's commitment to growth and innovation.

Industry Overview in Pakistan

The textile industry in Pakistan is a cornerstone of the national economy, contributing significantly to exports and employment. As one of the largest producers of textiles and garments globally, Pakistan benefits from a fav