Asda to acquire George supplier
George at Asda has exchanged contracts with the owners of the Türkmen Group to acquire the sourcing division of its long-term supply partner GAAT, for an undisclosed sum.
The Istanbul based GAAT, George’s largest supplier, has worked with Asda for over ten years managing garment production by over 80 manufacturers in countries such as Turkey, Sri Lanka and Egypt.
Commenting on the acquisition Andrew Moore, executive managing director of George at Asda said: "This is a natural and exciting next step for the business and will help George become even more responsive in delivering style, quality and value as we expand here in the UK and elsewhere around the world.
"We have developed an excellent relationship with GAAT over the last decade. Atila Türkmen and his team have built a formidable business that has played an integral role in the growth and success of George. We look forward to working with Atila and his team on the full integration of his business and people into the George organisation."
Asda said it expects to complete the acquisition in the course of the coming quarter.
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