Formet Metal Acquires 52% Stake in Proline Sandalye for 330 Million TL

Formet Metal ve Cam Sanayi A.Ş. has reached an agreement to acquire a 52% stake in Proline Sandalye ve Mobilya Sanayi Ticaret A.Ş. for a total consideration of 330 million TL. In a statement to the Public Disclosure Platform (KAP), the company noted that the share transfer will be completed upon the fulfillment of certain conditions. The acquisition will be paid in cash, and following the transaction, Formet Metal's control over Proline Sandalye will significantly increase. This move is seen as part of the company's strategy to strengthen its presence in the furniture and chair sector. Proline Sandalye operates primarily in the office and home furniture segment, and Formet Metal's investment is expected to expand its production capacity and market share. The deal will allow both companies to benefit from operational synergies. The share transfer is anticipated to be completed shortly after obtaining regulatory approvals, such as clearance from the competition authority. With this acquisition, Formet Metal aims to take another step toward its growth targets in the furniture industry. This is not investment advice.