North Yorkshire retail company buys large stake in international hammock business
A North Yorkshire-based online retail group has bought a significant stake in a German supplier and hammock brand in a multi-million pound deal.
YOLO, which owns and operates multiple retail brands and sells in over 48 countries, acquired a hammock business called Simply Hammocks in 2016, before purchasing its stake in Amazonas GmbH.
Scott Woodhead, Founder of YOLO, said: “When we acquired Simply Hammocks all these years ago it was a small business but had huge potential.
“So it’s a huge personal and professional achievement now to be in this position of owning a key supplier like Amazonas, whom I have always considered the best hammock manufacturer in the world! “
The deal, according to the company, will contribute to the recent launch of the Simply Hammocks USA website and future European sites in the works.
Matthias Saul, President of Amazonas GmbH, said: “Sharing the same values of customer satisfaction with great products, Amazonas and YOLO have been valued business partners for several years.
“YOLO, now becoming a shareholder in Amazonas, strengthens the already strong relationship between our companies. “
“This investment and continued partnership allows Amazonas to focus on growing our brand internationally and developing our brand as the world’s largest hammock manufacturer.
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