Zeren Group Holding Acquires Alfemo
Zeren Group Holding, which has been adding value to the Turkish economy since 1973, has acquired Alfemo, one of the leading players in its sector in modular furniture, upholstered furniture and mattress production. Entering the furniture industry with this new acquisition, Zeren Group Holding will focus on further strengthening the operations of Alfemo, which has been in business since 1997 and exports to nearly 20 countries.
Since 1973, Zeren Group Holding has added value to Turkey's economy and has now acquired Alfemo, one of the sector's leading players in modular group, upholstered group and bed manufacturing. With this new acquisition, Zeren Group Holding is entering the furniture sector and will focus on strengthening Alfemo's operations, which has been active since 1997 and exports to nearly 20 countries.
Alfemo Mobilya, which has an extensive sales network and exports to nearly 20 countries in addition to Turkey, will now continue its operations under the Zeren Group Holding umbrella. Mustafa Yiğit Zeren, Chairman of the Board and CEO of Zeren Group Holding, said "In the coming period, we will increase Alfemo's brand recognition and global growth through new investments."
'Contributing to Our Strategic Growth'
Mustafa Yiğit Zeren, Chairman of the Board and CEO of Zeren Group Holding, noted that the acquisition, which has also received approval from the Competition Board regarding the share transfer, will contribute to the group's strategic growth targets. "For 52 years, we have served Turkey's economy through different business lines. With Alfemo, a well-established and experienced brand in the Turkish furniture sector, joining our companies, we have stepped into a completely new sector. As a group with significant investments abroad, we will work to increase both Alfemo's operations in Turkey and its brand value globally," he said.
Emphasizing that they will make significant investments in Turkey and abroad in the medium term, Zeren stated, "Alfemo currently has 64 stores domestically and 21 concept stores and 'corners' abroad. We plan to rapidly increase the number of stores in Turkey to 100 by year-end and to increase employment, which currently stands at 460. Continuing this growth trajectory and increasing our recognition abroad are among our most important objectives. Drawing inspiration from our experience spanning over half a century, we will continue to make investments that add value to our country and proudly wave our flag."
Production in 200,000 Square Meters
Alfemo, which serves the mid and mid-upper segments in the furniture sector and has a strong presence domestically and internationally with its wide range of products, was founded in Izmir in 1997. With 200,000 square meters of modern and automation-based production facilities, Alfemo has a total production capacity of 860,000 units of modular furniture units, upholstered products, beds, bases and headboards, with 460 employees.
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