Israeli clothing manufacturer Tefron takes over the Romanian company Adesgo, the largest local manufacturer of tights and lingerie, Profit.ro announced.

The deal, expected to be completed in the middle of this year, was agreed at a price of over EUR 2 mln plus the fixed assets valued at EUR 1.5 mln plus the cost of the inventory. It is to be paid in instalments by June 30, 2025.

Tefron will also take over Adesgo employees, customer and supplier list and 125 production machines.

Adesgo remains active in the local market with the Diamond brand.

Established in 1926 as a branch of Arthur Drechsel, Adesgo became a joint-stock company with full private capital in 1993. During 1998-2002, the majority stake was bought by the Belgian group Bonneterie Bosteels de Smeth, and in 2010, Loar, part of the Argaman Industries group, took over the majority stake in the company.

The company has over 100 employees and exports about 85% of its production. On the local market, its products are sold both in its own stores and in hypermarkets.

iulian@romania-insider.com

(Photo source: Opolja/Dreamstime.com)