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

Polyester yarn price surge affects Surat textile industry

Textiles | On 22nd May 2018

Polyester yarn price surge affects Surat textile industry

The prices of polyester yarn have increased about 12-15 per cent in...

Provide power at Rs 8/kWh to textile units: APTMA

Textiles | On 22nd May 2018

Provide power at Rs 8/kWh to textile units: APTMA

All Pakistan Textile Mills Association (APTMA) has asked the...

Courtesy: Myntra

Fashion | On 22nd May 2018

Myntra to launch exclusive red carpet line at IIFA 2018

India’s leading destination for fashion online, Myntra, is all set to ...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Urmil Arya

Sushila International, a well established textile organisation established ...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silke Brand-Kirsch
Schlegel und Partner

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search