Li & Fung Limited to Acquire 55% Stake in New Advent for USD 250 Million to Restructure Its Three Vertical Product Segments

NewTimeSpace News: On June 1, 2026, Li & Fung issued an announcement stating that it has entered into a sale and purchase agreement with New Advent to purchase a 55% stake in the company for USD 250 million. The acquisition consideration will be paid in installments: an upfront payment of USD 130 million is due in 2026, followed by deferred payments totaling USD 120 million spread across four years from 2027 to 2030.

According to the announcement, New Advent operates as a vertically integrated product platform covering three core business divisions: furniture, knitwear and beauty & personal care. Upon completion of the acquisition, Li & Fung will hold a 55% equity interest, while the original consortium investors will retain the remaining 45% stake.

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