THE owners of Peter Scott have acquired Selkirk-based Lochcarron.
The purchase of the family-owned textiles business by South Korean multi-national retailer E-Land was confirmed at the weekend.
The announcement raises question marks over the retention of head office functions in both Borders towns.
However, it is understood the move will have little effect on operations in Hawick.
Around 130 jobs have been safeguarded by the takeover, which will secure the company’s continued presence as a manufacturing business in the Borders and provide the support and expertise to further develop new and existing products.
Alistair Buchan (pictured) the retiring chairman of Lochcarron, said: “I believe E-Land’s established presence in the global marketplace will enable Lochcarron to continue to develop and prosper supported by such a major force in the world of prestigious textiles.”
Richard Sweetnam, Scottish Borders Council’s economic development officer, said his department had not been involved in the acquisition.
“However, anything which keeps niche manufacturing going in the Borders textile sector, which still punches well above its weight, is good news,” he said.