Kettering Textiles has been bought by the Salvation Army Trading Company (SATCoL) for a reported £11 million.
SATCoL has bought Kettering Textiles as it is the contractual operator of the Salvation Army clothing collection scheme and it will create a new Salvation Army Clothing Collection Division as a result.
In a statement, SATCoL said: “This transaction does not affect the day-to-day running of the business, but rather ensures continuity of service to all customers and suppliers. It is extremely positive for both SATCoL and KT, giving SATCoL total ownership of the clothing collection operations and thus improved profitability to provide a long-term sustainable income stream to support the Salvation Army’s charitable work with vulnerable and marginalised people in communities across the UK.
“The decision to undertake this transaction was taken in the long-term interest of employees, customers and suppliers. The deal safeguards all staff jobs while providing SATCoL with the long-standing and vast management expertise of Kettering Textiles and its key wholesaler relationships.”