Home / Knowledge / News / Apparel/Garments / Carlyle Group acquires stake in Turkish hosiery retailer
Carlyle Group acquires stake in Turkish hosiery retailer
20
Sep '12
Global alternative asset manager The Carlyle Group announced the acquisition of a significant minority stake in Penti, a hosiery manufacturer and retailer of women’s hosiery, lingerie and swimwear in Turkey.

Equity for this investment will come from Carlyle MENA Partners, L.P., a $500 million growth capital and buyout fund focused on the Middle East and North Africa. Terms of the transaction, which is expected to close in early November, were not disclosed.

Established in 1950, Penti is the largest manufacturer of hosiery and a leading retailer of women’s hosiery, lingerie and swimwear in Turkey.  Headquartered in Istanbul, the company employs 1,847 people and has a hosiery production capacity of 68m pairs at its plant – the largest in Turkey and 3rd largest in Europe.  The company has 155 stores in Turkey and 39 stores in 16 countries.

Sami Kariyo, Chairman of Penti, said, "We are delighted to partner with Carlyle, which has a strong track record of value creation within the retail sector.  Our partnership with Carlyle will help to strengthen the Penti brand both within Turkey and internationally."

Can Deldag, Co-Head of Carlyle MENA and Head of Carlyle’s team in Turkey, said: “We are particularly excited to invest in a strong and growing company with great potential.  In partnership with Penti’s talented management team, we plan to invest in the business, and enhance the resources and facilities for customers which are integral to its continued success.”

This is the MENA fund’s sixth investment. Previous transactions include:

  • Medical Park Saglik Hizmetleri A. S., Turkey’s second largest healthcare services company
  • Alamar Foods, a master franchise operator of Domino’s pizza and Wendy’s hamburgers for the MENA region
  • TVK Shipyard (TVK), a Turkish shipbuilder specializing in chemical tankers and other specialty vessels
  • General Lighting Company, Saudi Arabia’s largest lighting fixtures manufacturer and supplier
  • Bahcesehir Koleji, a private education provider in Turkey

Carlyle’s current and past consumer & retail investments include:

  • Dunkin’ Brands, a U.S.-based franchisor of quick-service restaurants
  • Scalina, a lingerie and hosiery company based in Brazil
  • X-Tep, a fashion sportswear company based in China
  • NBTY, a manufacturer, marketer and distributor of nutritional supplements based in the U.S.

Starting its business under the brand name “Ögretmen Hosiery” in 1950, the brand changed its name to “Penti” in the 1980s.  Designing and manufacturing women’s hosiery, children’s hosiery, men’s socks, homewear, lingerie, and bikini, bathing suit and beachwear under the brand name Penti, the company is the leading company in its business area.

The Carlyle Group is a global alternative asset manager with $156 billion of assets under management in 99 funds and 63 fund of fund vehicles as of June 30, 2012.

The Carlyle Group


Must ReadView All

UK retail firms urge Hammond to ease business rates burden

Textiles | On 20th Nov 2017

UK retail firms urge Hammond to ease business rates burden

Top British retail company CEOs have urged UK finance minister...

L-R: Surya Ajay Agarwal (Director - Donear), Vikram Mahaldar (MD - OCM) & Rahul Rajendra Agarwal (Director - Donear)

Textiles | On 20th Nov 2017

Promoters of Donear Group acquire OCM Woolen Mills

The promoters of Mumbai-based Donear Group have announced the...

Courtesy: Cornell

Textiles | On 20th Nov 2017

Cornell’s tech allows customisation of woven fabrics

Cornell Professor Steve Marschner and Rhode Island School of Design...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search