The Yorgancılar Family, Teak Capital and Tangor Capital are pleased to announce a strategic partnership that brings YORGLASS and VETRERIE RIUNITE GROUP under joint ownership.

Under the terms of the agreement recently signed, Yorgancılar Family will take a significant interest in Vetrerie Riunite (VR) Group, while Teak Capital and Tangor Capital will become shareholders in Yorglass. The transaction is subject to customary regulatory approvals.

This partnership represents a long-term commitment to growth, innovation, and operational excellence. Yorglass and VR Group will leverage their combined strengths to enhance productivity, share technology and best practices, and expand their reach through a more efficient and diversified industrial footprint. It will also foster joint R&D initiatives and create new professional opportunities for employees through greater international collaboration.

Fabrizio Missich, current CEO of Yorglass, who will serve as the CEO of the joint venture, commented: «The partnership also marks the beginning of an exciting new chapter for YORGLASS and the VR Group – a union built on shared values, mutual trust, and complementary strengths. Upon the formation of the partnership, the management will continue to steadfastly pursue to put customers first and will consider this principle as the unshakeable core of its strategy and decision-making. To this end, we do not foresee any changes to the management of relations with customers and suppliers of Yorglass and the VR Group. Together, YORGLASS and VR aim to deliver greater value, deepen relationships, and serve their global customer base with renewed energy and purpose».

Manuel Loureiro, current CEO of VR Group, who will remain a board member of both entities after consummation of the transaction, added: «We are excited to join forces with Yorglass in a partnership that will strengthen our ability to serve customers with greater agility, innovation and proficiency. By aligning our industrial footprint and exchanging proven practices, we can accelerate the ongoing transformation at VR – across Italy, China, and beyond –, taking a significant step toward enhanced international presence».

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ABOUT THE COMPANIES

Yorglass

Founded in 1974, Yorglass operates five production plants across different cities in Turkey and has long-standing experience in industrial glass processing and flat glass trading. The company offers a broad product portfolio and serves both domestic and international markets with a focus on flexibility, innovation, and tailored solutions. Yorglass’ 2024 turnover was approximately 175 million Euros.

www.yorglass.com

Vetrerie Riunite Group (VR Group)

Established in 1968 and headquartered in Colognola ai Colli, Italy, VR Group specialises in the production of glass windows for front-load household laundry appliances. It has production facilities in both Italy and China and supplies products to a wide range of international home appliance manufacturers. VR Group’s 2024 turnover was approximately 100 million Euros.

www.vetrerieriunite.it

Teak Capital

Teak Capital is an investment company owned by the Moreira da Silva Family, with interests in the industrial, financial, education, energy and agroforest sectors.

www.teakcapital.pt

Tangor Capital

Tangor Capital is the family office of the Silva Domingues Family, with a diversified investment portfolio across sectors such as industry, real estate, and financial services.