February 2011
Kerten acquired a stake in Turkish kidswear Bucuruk
One of the leading companies in the kidswear retail industry, Bucuruk Tekstil begins 2011 with the announcement of an international strategic financial investment. Kenan Unal, General Manager of Bucuruk Tekstil, who has joined with Irısh Private Equity Fund – Kerten, stated “As a result of this partnership Bucuruk’s positioning in retail sector will be further strengthened by new store investments and additional export markets, contributing to our capital and long term strategy”.
Bucuruk, one of the leading companies in the kidswear retail industry, signed a partnership with Irish Private Equity Fund, Kerten. Bucuruk has experienced accelerated growth in recent times, and currently, it strives to become a well-established brand in the region by increasing its distribution network and franchises, strengthening corporate structures, and increasing revenues under its meidum term strategy planned in conjunction with its new partner Kerten.
Kenan Unal, Shareholder and General Manager of Bucuruk Tekstil, emphasized “Following this deal and upon completion of a restructuring process, we plan to be the leading kidswear brand in Turkey. We also plan to expand into International markets.
Berkan Tamer, Managing Partner of ATP Corporate Finance served as exclusive financial advisor during structuring of partnership; while Kolcuoglu & Demirkan Law Firm (legal matters), Ernst & Young (financial and tax audit), Forte Consultancy (commercial issues) and Caltekin Accountancy (accounting matters) took part in due diligence
Gabriella Kindert, Non-Executive Director of Kerten Private explained “We believe that the entrepreneurial corporate spirit, growth centric business activity and strong market positioning of Bucuruk will generate significant opportunities in the kidswear apparel sector for ourselves. We are of the opinion that Bucuruk will pursue to further strengthen its local success, principally in Europe and the Middle East, and also in other export markets, stemming from its high value for money product mix and strong brand. In order to achieve this partnership’s medium term goal of stronger growth and higher profitability, Kerten will, along with capital injection, provide strategic assistance and international connections that would assist in expansion locally as well as internationally”.