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Wabererʼs founder to revoke brand name from new owner

Retail

György Wáberer, the founder and former CEO of Hungarian logistics and haulage firm Waberer’s, Tuesday announced he would revoke the right to use the company’s brand name as of the summer of 2018 with the expiry of the related contract, according to a press statement sent to the Budapest Business Journal.

Wabererʼs International Zrt.’s founder and former co-owner sold his part of the company in June last year to investor group Mid Europa Partners. The Waberer’s brand appears on more than 3,500 trucks and is well-known internationally in the region, the press statement adds.

Hungarian online news portal napi.hu recalled that Wáberer sold his 40% of the company to Mid Europa Partners together with the right to use the brand name, for which the contract expires next summer. In the press statement, Waberer’s the company explained that handing over the rights for use of the brand name was an inseparable part of the deal made last year.

Wabererʼs recently started offering its shares for subscription in an initial public offering (from June 19 until June 29). The shares are offered between HUF 5,100 and HUF 6,300. 

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