Dogi consolidates its growth strategy with the acquisition of Ritex.

- RITEX incorporation enhances and complements the products and services of Dogi Spain, the Group’s elastic fabrics production division, besides giving access to new markets and clients.

- RITEX is a company engaged in textile fabrics and garment design and subsequent commercialisation, which operated nationally and internationally (Italy, the United States and Portugal) and plans to close year 2017 with a turnover of around € 8 million.

- RITEX has significant synergies with the elastic fabrics production division of the group, which is expected to entail an estimated EBITDA increase of € 1 million for the group over the coming years.

DOGI takes a new step forward in its Strategic Plan that implies becoming a big industrial group in the textile sector present in various segments of the industry. In the framework of this achievement, the company has closed the acquisition of RITEX, a company engaged in the design and subsequent commercialisation of elastic fabrics and garment.

The investment that has been announced today enables DOGI to consolidate its elastic fabrics manufacturing division, thus gaining access to new markets (RITEX has a national an international scope of activity) and new clients. Moreover, it will enable to improve the Group’s competitive position in order to become one of the main actors in this business area.

RITEX, founded in 2002, has focused its activity on the design, manufacturing and distribution of finished knit fabrics It is present in Spain, Italy, the United States and Portugal and has a broad and varied fabrics collection. Over its 25 years’ track record in the sector, RITEX’s work philosophy has been based on a constant research for and development of innovative products in line with the trends of the young fashion sub-sector at each moment.

RITEX management team, headed by Ricard Ribé (founder and current CEO of the firm), will remain in charge of the company’s day-to-day management.

DLA Piper has taken part in this transaction as adviser of the buyer, as well as Ribe Salat, as adviser of the seller.