October 29 (SeeNews) - Turkish home and professional appliances manufacturer Vestel Elektronik Sanayi ve Ticaret [IST:VESTL] said its wholly-owned subsidiary Vestel Ticaret has signed a deal to buy the Hostess and White Knight home appliance brands from UK peer Crosslee.
The contract, whose value remained undisclosed, includes the Hostess and White Knight business trademarks, intellectual property rights, domain names and equipment related with these trademarks, Vestel said in a filing with Borsa Istanbul's public disclosure platform KAP earlier this week.
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Through the acquisition, Vestel expects to expand its presence in the UK, the company noted in the filing.
Vestel, established in 1984, manufactures consumer electronics, household appliances, visual solutions, LED lighting, EV charging stations and other products.