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Rovitex acquires Gardénia brand

Textile-trading company Rovitex Homedeco Group has acquired the brand name and rights for Gardénia Lace Curtain Factory products from the latter’s liquidator, Rovitex Homedeco owner Norbert Romeisz said on Wednesday.

Rovitex Homedeco expects turnover to rise 20% as a result of the acquisition within the next two years, Romeisz said.

Rovitex generated HUF 10 millon profit on sales of HUF 2.6 billion in 2010. HUF 1.7 billion of last year's sales revenue came from Hungary.

Group turnover rose 13% in the first half and profits rose to HUF 43.9 millon, Romeisz said.

The Gardenia Lace Curtain Factory has been under liquidation since May 2008.