Olgar Group, is a retailer and distributor of sports and lifestyle products in Turkey. The Company with its 22 SPX stores, 7 Vault stores and one Quiksilver store, is one of the leading retail groups in Turkey. The company is also the exclusive distributor of leading sports and lifestyle brands such as Merrell, Salomon, Billabong and Quiksilver in Turkey.
Global Capital Management, the alternative asset management arm of Global Investment House, is a leading alternative asset management firm in the MENA region. It continues its operations with a team of more than 20 professionals based in Kuwait, Dubai, Cairo and Istanbul offices. Olgarlar is Global’s fourth investment in the country.
Global Investment House KPSC, a Kuwait-based investment company, agreed to buys majority stake in Olgarlar.
Global Capital Management Ltd., Global Investment’s private equity arm, is making the acquisition through one of its funds called GMFA, according to an e-mailed statement from the companies Wednesday. The companies didn’t give information on the financial details of the deal.
Kerim Kotan who advised Olgarlar on the transaction, said “this partnership will be a turning point for SPX. I’m very pleased to advise on this deal between SPX and Global Capital Management, which will strengthen SPX’s market position and allow the Company to move its activities into new categories and channels. SPX will be better positioned to acquire exclusive distribution rights for new sports and lifestyle brands and strengthen its position in this fast-growing market.”