Lakeland Industries buys the Jolly Scarpe factory in Romania

The American company Lakeland Industries, manufacturer of protective clothing for industry with sales in over 50 countries, buys the Jolly Scarpe Romania factory.

The company produces footwear for firefighters at the factory in Bucharest. The transaction now, which also includes the acquisition of Jolly Scarpe in Italy, is valued at approximately EUR 9 million. For the business in Romania, the advanced price is EUR 2 million. In Romania, the manufacturer has over 130 employees. The existing staff and management team will remain in place after the transaction.

The plan is for Jolly to add USD 14 million to USD 16 million in sales revenue for Lakeland this fiscal year and have an immediate growth effect.

Source: Profit.ro