Estonia, Investments, Markets and Companies, Mergers and take-overs, Textile

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 15:34

Estonian textile business buys Qualitex from Tolaram

BC, Tallinn, 23.09.2014.Print version
Estonian textiles industry businesswoman Kristi Täht's company K.Täht Holding OÜ bought from Tolaram Group the knit fabrics factory Qualitex AS, which operates in the Pärnumaa county, LETA/Public Broadcasting reports.

"Qualitex continues with the current 90 employees and the company's acquisition creates a bigger synergy on the basis of existing production capacity and sales network. The direction is on increasing export volumes, especially in Scandinavia, and not only in the fabrics, but also in the finished products segment," said Kristi Täht, who will be Qualitex AS Board Chairwoman.

 

"In accordance with the Group's strategy, Tolaram focuses in Estonia on the paper and pulp industry and real estate, which led to the decision to leave the textile business. It makes us delighted that we found in Kristi Täht a professional and dedicated to the textile sector new owner," said the Tolaram Group Estonian manager Sonny Aswani.

 

The factory's commercial real estate remains the property of Tolaram and Qualitex works as a lease-holder there.

 

The co-investor in the transaction is Aare Võsu and it was financed by Swedbank with the support of Rural Development Foundation. The parties have agreed not to disclose the transaction value. Qualitex textile industry had a turnover of 3.9 million euros and operating profit of 250,000 euros in 2013.

 

Kristi Täht is Estonian entrepreneur and owner of the textile company Katarina OÜ, which has since 2008 been engaged in design and production of children's clothing and home textiles. In June 2014 the company acquired the textile business Marat, its operations, brands and retail network.






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