Formet Acquires Majority Stake in Proline Sandalye for 330 Million TL

Formet Metal ve Cam has taken a significant step in the furniture sector by acquiring a majority stake in table and chair manufacturer Proline Sandalye. The company announced the purchase of 52% of Proline Sandalye for 330 million TL. This transaction is part of Formet's strategy to expand its production portfolio. The acquisition will enable Formet to establish a presence in the furniture segment in addition to its metal and glass products. Proline Sandalye stands out as a recognized brand, particularly in office and home furniture. Through this partnership, Formet aims to increase its production capacity and market share. Company officials stated that this acquisition will create synergies and enhance the operational efficiency of both firms. Formet plans to accelerate its growth plans by collaborating with Proline Sandalye's existing management team. According to financial details, the 330 million TL acquisition price will be paid in cash. This transaction will be recorded as an investment on Formet's balance sheet and may affect the company's leverage ratio. However, management expects this investment to boost profitability in the long term. This is not investment advice.