Basque conglomerate Ternua Group is moving forward with its insolvency proceedings, announced in June , through the sale of its Ternua and Loreak Mendian brands.

The Dikar co-operative, part of Mondragon Corporation, has acquired the group’s eponymous brand, following authorisation from Commercial Court No 1 in San Sebastián. The deal aims to safeguard the industry and the brand’s Basque roots, ensuring its continuity "within a solid, internationalised business project committed to the region."

In a statement carried by Europa Press, Dikar stressed that this acquisition "consolidates its commitment to the region and its support for the Basque industry."

The co-operative has not disclosed the purchase price for Ternua and noted that the deal forms part of its "diversification strategy"

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