Mexico-based custom activewear brand Xceed Sport has signed an agreement to acquire US-based outdoor and sports clothing brand Peaks Apparel for an undisclosed sum.
The deal is expected to be complete by the end of this year.
Peaks Apparel CEO and founder Jason Reinhardt said: “It is a little surreal to wake up one morning and know that you are now one of the largest and fastest growing brands in your market space.
“Having teams of inhouse designers, customer service personnel, large scale production facilities and retail shops all driven by advanced technology will provide our customers a much better overall experience.”
The deal is part of Xceed’s strategy to expand its brand and includes a licensing and distribution agreement with UK-based e-commerce platform BrikL. Xceed aims to use BrikL’s technology to make purchasing custom-made apparel simple for its customers.
Xceed has already started the implementation of the BrikL software platform. The entire system is expected to be live and functional by June this year.
Xceed CEO Miguel Arvizu said: “This is an exciting acquisition that supports our growth strategy. We will be able to leverage our established brand, production and distribution operation to further expand our market and channel penetration.
“We are ready to take the next steps in becoming a large-scale production hub for North America and the licensing and distribution agreements will get us there quickly.
“People hear the phrase ‘state-of-the-art technology’ and do not typically think Mexico City is where they will find it. We have been using advanced technology since the inception of our company. You can walk into our retail store and use our 3D body scanning machine to dial in your measurements.”