The Istanbul-based Bayraktarlar Holding, shareholder of lighting supplier Farba, former licensee of Cibié, announced last week that they have bought Odelo, the Germany-based automotive lighting supplier. Bayraktarlar seek to expand their international business and strengthen their market position in the automotive supplier industry in Europe. “Odelo’s high quality and innovative product portfolio, its strong technology base and extensive client relations are a perfect match for our existing automotive business. We will be working as partners and ensure that this acquisition will create value for our clients worldwide”, says Ahmet Bayraktar, Vice President of Bayraktarlar Holding
Bayraktarlar Holding A. ? was founded in 1935 by Mehmet Bayraktar.
In 1979, the company entered the automotive supply market, starting as a local automotive supplier. Bayraktarlar has a successful track record in developing a national presence in the automotive lighting business in Turkey.
Odelo have been in the lighting business since 1935.
“Bayraktarlar Holding is a committed and strong partner who will invest in both our company and our people”, says Dr. Zeljko Matijevic, CEO of Odelo. “With this strong partner, Odelo can now focus on its globalization and innovation objectives.”
Bayraktarlar will honour all existing collective labour agreements at Odelo. Furthermore, Bayraktarlar plans to invest in new technology at Odelo.
“Innovation is key for the future market success and competitiveness in the automotive supply industry and this is what makes Odelo attractive for us”, confirms Ahmet Bayraktar. Through knowledge sharing and operational improvements, Bayraktarlar plan to further enhance Odelo’s competitiveness.
