Showa Glove agrees to acquire Best Manufacturing

Tillotson Corporation and Showa Glove of Japan on August 16 jointly announced the signing of a purchase and sale agreement whereby Showa will acquire all of Tillotson's Best Manufacturing glove operations and subsidiaries, creating a global leader in glove manufacturing and product development.

The transaction, expected to close within the next 45 days, brings together two well-respected innovation leaders in the glove marketplace. Upon closing, Best will continue to operate as a stand-alone company and will be headquartered in Menlo, Ga., as a division of Showa Glove. Other terms of the deal were not disclosed.

This creates one of the largest hand protection manufacturers in the world with a product portfolio that encompasses many of the world's most trusted and widely used glove brands. According to the companies, the combination of Showa and Best offers:

Best-in-class technology: With a focus on research and development, the combined company will be uniquely positioned to continue and accelerate the Best/Showa tradition of introducing new, innovative products.

Comprehensive hand and arm product portfolio: The high quality of Showa's and Best's products has earned both companies recognition as industry leaders. Combined, the two offer a full range of the highest-quality protective gloves to industries ranging from automotive and manufacturing to construction, health care, technology and food service.

Extensive channel coverage: The merged company will have one of the world's strongest sales and service organizations focused exclusively on hand protection.

Global production facilities: With global production facilities (U.S., Japan, Guatemala, Vietnam, Malaysia and Canada), the companies will be able to manufacture closer to its customers, increase production capacity and operate under a global business model.

Bill Alico, president and chief executive officer of Tillotson Corporation, will serve as chief operating officer of the new company. As part of the transaction, Alico, a glove industry veteran, will step down from his post at Tillotson.

"Best and Showa share a vision. We both are committed to developing the most advanced technology in hand protection. By combining our companies' complementary, best-in-class products and technologies, we expect to create a powerhouse in the hand protection market – one that has the potential to dramatically change the industry," said Alico.

Yasunori Miura, president of Showa Glove, stated, "We have had a strong relationship with Best Manufacturing for some time now through our strategic partnership as the sole-source provider of Showa's Hi-Tech line of hand protection in North America. Through these discussions we have come to know the organization as one of high integrity, high standards and a commitment to excellence. We believe our alignment with Best Manufacturing is a solid decision which serves the best interest of customers, employees and the communities we serve."