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Haulotte buys Turkish distributor

Wednesday, 10 Oct 2018 ( #893 ) - L'Horme, France
News Story
Haulotte has bought the remaining shares in Acarlar Makine
Haulotte Group has announced the acquisition of 100% of the shares of Turkish distributor Acarlar Makine.

Acarlar was created in 2003 by the Acar group. The company is headquartered in Istanbul and has 34 employees in four branches throughout Turkey.

Haulotte took a 50% stake in Acarlar in 2014.

"This acquisition is in line with the participation taken in 2014 in a market that has now confirmed its potential of growth. Despite recent variations of the Turkish lira, we believe that the long-term perspectives in Turkey remain attractive for Haulotte Group," says Alexandre Saubot, deputy CEO of Haulotte Group.

Acarlar Makine has been the exclusive dealer of Haulotte since its establishment and Haulotte recognises it as a leader in the market over the last 15 years.

Details of the purchase price and terms were not revealed.
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