AUSTRIA/TURKEY. Austrian store branding and shop marketing provider Umdasch The Store Makers – a prominent player in travel retail – is acquiring a majority share in the Turkish shopfitting specialist Madosan in Bursa, a city south of Istanbul.
Under the terms of the deal, which is subject to the approval of anti-trust authorities, current owners, Vedat Saygin and his wife Sevgi, will remain on the board as minority shareholders.
The company was founded in 1993 and operates as a specialist for metal shop-fittings and heavy duty shelving for international customers, including supermarket chain Auchun, health and beauty store specialists Rossmann, building supplies chain Leroy Merlin, Bosch, and Saint Gobain.
Umdasch The Store Makers CEO Silvio Kirchmair said: “In Madosan we are gaining a subsidiary which will help us to continue to grow, especially in these economically challenging times.
“Through our majority interest we are gaining access to important international retail customers and are acquiring an extremely competitive production base.”
Madosan has a workforce of about 125 employees, and annual revenues in region of TL50 million (US$6.9 million).
