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Estonian textile company acquires knit fabrics factory Qualitex from Tolaram

YarnsandFibers News Bureau 2014-09-24 17:00:00 – Estonia

Kristi Täht is Estonian businesswoman and owner of the Estonian textile company K.Täht Holding OÜ, has acquired the knit fabrics factory Qualitex AS from Tolaram Group, which operates in the Pärnumaa county. The company's acquisition creates a bigger synergy on the basis of existing production capacity and sales network. Qualitex, currently has 90 employees working.

Kristi Täht is Estonian entrepreneur and owner of the textile company Katarina OÜ, since 2008 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.

Qualitex textile industry had a turnover of 3.9 million euros and operating profit of 250,000 euros in 2013.

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, Estonian textiles industry business woman 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. The Tolaram Group Estonian manager Sonny Aswani said that this has led to the decision to leave the textile business. They are delighted having found in Kristi Täht a professional and dedicated to the textile sector new owner.

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.

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