# R2G to buy First Quality Nonwovens for up to $500 million

Czech investment firm R2G, majority owner of Pegas Nonwovens, is buying First Quality Enterprises' nonwovens operations in the US and China. The price is estimated at up to $500 million.

- Type: Acquisition
- Announced: 2018-05-22
- Where: United States and China, United States
- Value: $500.0M
- Status: announced
- Products: nonwovens, hygiene products
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Pegas Nonwovens](https://endata.com/companies/21568.md) (partner)
- [R2G](https://endata.com/companies/25703.md) (acquirer)
- [First Quality Enterprises](https://endata.com/companies/32019.md) (partner)
- [First Quality Enterprises](https://endata.com/companies/32019.md) (target)
- [First Quality Nonwovens](https://endata.com/companies/32021.md) (target)

## Sources

- [reuters.com](https://www.reuters.com/article/business/czech-group-r2g-buys-nonwovens-division-from-first-quality-enterprises-hn-idUSL5N1ST5HI/), 2018-05-22: "The newspaper estimated the price at up to $500 million."
- [ct24.ceskatelevize.cz](https://ct24.ceskatelevize.cz/clanek/ekonomika/prumyslnik-slemr-kupuje-ve-spojenych-statech-firmu-na-netkane-textilie-za-miliardy-80108), 2018-05-22: "Cena se odhaduje na až 500 milionů dolarů (téměř 11 miliard korun)."
- [intellinews.com](https://www.intellinews.com/czech-r2g-entering-us-market-with-purchase-of-first-quality-nonwovens-for-record-500mn-142102/), 2018-05-23: "This acquisition will make communication with global clients in the four continents better."
- [textileworld.com](https://www.textileworld.com/textile-world/nonwovens-technical-textiles/2018/05/r2g-the-majority-owners-of-pegas-nonwovens-a-s-to-acquire-first-qualitys-u-s-and-china-nonwovens-businesses-to-create-global-pfnonwovens-holding/), 2018-05-25: "R2G, a family office based in Prague, Czech Republic, which owns majority interest in Pegas Nonwovens A.S., and First Quality Enterprises Inc. today announced that the two companies have entered into a definitive agreement under which R2G will acquire 100-percent of First Quality’s nonwovens operati"
- [nonwovensnews.com](https://www.nonwovensnews.com/industrial-products-news/14151-r2g-acquires-first-quality-s-us-and-china-nonwovens-businesses), 2018-05-26: "R2G, which owns majority interest in Pegas Nonwovens and First Quality Enterprises has announced that the two companies have entered into a definitive agreement under which R2G will acquire 100% of First Quality’s nonwovens operations in the United States and China."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.