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Denmark's JBS Textile Group buys Lithuania's sock maker Sparta
BC, Vilnius, 01.03.2019.
Print version
Print versionDenmark's JBS Textile Group is strengthening its production in Lithuania through the acquisition of Sparta, a sock factory operating in Vilnius for 100 years now, with plans to manufacture not only socks, but also underwear under the brand,according to the business daily Verslo Zinios information reported LETA/BNS.
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The Sparta brand, production and marketing becomes part of JBS Textile Group starting March.
Tomas Tumynas, who currently heads JBS Textile Group's VIP underwear factory in Kazlu Ruda, in southwestern Lithuania, has been appointed as CEO of Sparta.
Tumynas says the new shareholder seeks to further strengthen the Sparta brand's position in the market, with plans to expand the network of retail outlets and offer its products online.
"We'll seek to increase exports to Scandinavia and to return to the Russian, Ukrainian, CIS and other markets," the CEO said.
"The factory plans to start developing and producing underwear under the updated Sparta brand. If needed, we'll be able to move part of production to other factories owned by JBS Textile Group," he added
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