Flamasats completed the acquisition of an 88% stake in Velas Martínez Morales.

Flamasats, a holding company that controls several consumer goods brands in Spain, completed the acquisition of an 88% stake in Velas Martínez Morales, a Spanish candle manufacturer. Financial terms were not disclosed. The acquisition establishes Flamasats in the Home Fragrance market, specifically with scented and decorative candles. This category is generally less cyclical than lighters and offers strong long-term growth driven by consumer trends toward wellness, home décor, and self-care.