Family Sells Business
The following year the Bally family sold their interest in the company. Numerous difficulties followed and the company struggled under poor management against a tide of low-cost products from developing countries flooding the global market. In 1999 Bally was sold to the American investment fund Texas Pacific Group. On 22 April 2008 it was announced that Bally International AG is to be sold to Labelux Group Inc. Today the company is headquartered in Caslano, Ticino, Switzerland.
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