Dutch company to acquire Turnover

The Veldhovengroup and Secon Group confirmed they are in active negotiations for the sale of the Turnover brand to Veldhovengroup. The expected date of the transaction is July 1 2010.

"We hope to confirm the official purchase of Turnover soon," says Martijn Veldhoven, CEO of the Veldhovengroup. "We have entered final negotiations after completing our due diligence to ensure that the acquisition is in line with our sustainable growth strategy. Turnover is a strong fashion brand and this is the extension we seek to balance our brand portfolio."

Veldhovengroup, founded by Rudolf Veldhoven in 1950, will carry the brand alongside its current brands Sandwich, Stills and Nononsense. The group has operations in 24 countries over three continents.