Turkish white goods firm acquires British brands
Leading Turkish white goods firm Vestel has bought two British home appliance brands to strengthen its position in the global market.
According to a company statement on Oct. 28, the new deal with UK-based Crosslee PLC will help Vestel get a foothold in new markets while strengthening its presence in Europe and the UK.
The deal was for the acquisition of the Hostess and White Knight business trademarks, intellectual property rights, domain names, and some equipment related to these trademarks.
The registration process for the trademark transfer is being completed in the EU while the process continues in some non-EU countries.
Vestel, one of the world’s leading original design manufacturers (ODM) in consumer electronics and household appliances, exports its products to 157 countries around the world.