LEXINGTON, Mass. — Tillotson Corporation and Showa Glove of Japan today jointly announced the signing of a purchase and sale agreement whereby Showa will acquire all of Tillotson's Best Glove operations and subsidiaries, creating one of the largest hand protection manufacturers in the world.
The transaction, expected to close within the next 45 days, brings together two leaders in the glove marketplace. Upon closing, Best will continue to operate as a stand-alone company and will be headquartered in Menlo, Georgia, as a division of Showa Glove. Other terms of the deal were not disclosed.
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.