Dogi acquires fellow Catalonian textile firm Ritex

Dogi has acquired the Catalan textile firm Ritex through its subsidiary Elastic Fabrics. The operation values Rilex at circa 3 million euros.

Dogi informed the Spanish market regulator, the National Securities Market Commission (CNMV) that the transaction occurred on Tuesday, valuing Ritex at around 3 million euros.

Dogi has now ownership of 100 percent of the shares in the textile design and marketing company, located in Barcelona.

Ritex operates in Spain and in international markets and recorded sales of 7.4 million euros in 2016, a figure that it expects to exceed in the current year, reaching 8 million euros in 2017.

The director of Ritex, Ricard Ribé Salat, will take over the management of the Ritex business unit in the Dogi Group, according to a corporate statement.