Press Release 3.5.2019
The new acquiring partner supports the international growth of Balmuir
Polap-Team Oy has acquired Wheslyn Group Oy, the owner of the lifestyle and fashion brand Balmuir. Polap-Team Oy is the parent company of the Finnish L-Fashion Group from Lahti. The acquisition supports the growth strategy of Balmuir and strengthens its international operation.
”For a while now, we have looked for the right partner who would guarantee the necessary resources for long-term development and international growth. We negotiated with various parties and investors from abroad, but we believe that with Polap-Team Oy we can best assure the continuation and fulfilment of our visions for the future. The acquiring partner’s strong relationships to European and Russian resellers among others will strengthen our market position and help us grow internationally. We find it important that the buyer respects our work and wants to keep strengthening our brand. The greatest part is that our company continues in the ownership of a Finnish family business and that the new owner has the needed resources to support our next growth spurt”, says the CEO of Balmuir Heidi Jaara.
“At Balmuir we continue business as usual and for the time-being I continue as the CEO of the company. My long-term dream has been to move to our executive board and to keep on building our strategy and developing future visions from there. This dream will also be fulfilled soon”, tells Jaara.
Balmuir will keep on functioning as an independent daughter company of Polap-Team Oy.
”We have strong faith in the future growth potential of Balmuir domestically as well as abroad. Balmuir has its strengths in high-quality fashion accessories, home textiles and gift items. Our goal is to develop the company towards international growth”, tells the CEO of Polap-Team Oy Tiina Luhtanen.
Polap-Team Oy is a Finnish family business, of which the main field of business is clothing production and marketing. Polap-Team Oy is the parent company of L-Fashion Group Oy based in Lahti, Finland.
Wheslyn Group Oy is a company founded in 2007, the turnover of which was 8,4 million euros in year 2018. The company currently employs 50 people in Finland and has sold products to over 70 countries.
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