Turkish firm buying out Lumberjack
ISTANBUL - Hürriyet
Hürriyet photoA local shoe company has acquired Lumberjack, the world famous Italian brand, a top executive of Ziylan Group told daily Hürriyet on March 16.
Ziylan Group, the owner of the rapidly growing FLO shoe stores chain, has been in talks with Lumberjack for six months and a final announcement about the acquisition is set to be made soon, according to Aykut Büyükekşi, a board member of the Gaziantep-based company.
“The work is substantially over. We will make a final announcement in 15 days,” said Büyükekşi.
İslam Şeker, head of Turkey’s Shoe Industrialists Association, said this was proud news, but that more was to come. “I know that some further acquisition talks are continuing,” he told Hürriyet.
Ziylan Group is planning to bring the patent and design team of Lumberjack to Turkey. According to the Büyükekşi, it is also in talks to buy out a famous trainer brand. “We plan to acquire four brands in the coming period,” he said.