The investment fund Accent Equity 2012 has signed an agreement to acquire the entire trailer business from the Thule Group with company management as co-investors. They will form Brenderup Group, which will take over all of Thule Group’s trailer business, which focuses on semi-professional and professional users in the Nordic, German and Polish markets. The sale includes 500 employees, production plants, design and engineering resources and sales across Europe.
The trailer business entity divested includes plants in Jönköping (Sweden) and Wielen (Poland) and an assembly operation in Norra Aaby (Denmark). The largest brand in the new entity, which will be managed by the current Divisional President Lotta Castell, will be Europe’s biggest trailer brand Brenderup, which makes trailers for the home and garden, professional, boat and cargo rental markets. Also sold were the local trailer brands Fogelsta and Ellebi as well as the Thule Rental brand used for trailer rentals in the Nordic market.
Thule Group said its management decided late last year to divest the business to align with its strategic direction, which is to focus on outdoor and sport products.
“Our strategic focus to build on our market leading position in outdoor & sport products for active consumers around the world is very clear,” said CEO Thule Group CEO Magnus Welander, referring to the company’s recent entry into several new product categories. In January, for instance, Thule unveiled bike child seats and stroller/joggers under a new line it dubbed “Active with Kids.’ The company, which also owns Case Logic, has also launched a number of award winning bags in the camera, bike and winter-sport category.
“In this context, the trailer business was no longer a core business for us,” Welander said.
The divestment is subject to approval from competition authorities and is expected to be closed in the coming months.
Based in Sweden, Thule Group makes equipment and carriers for cycling, water and winter sports, roof racks, roof boxes, bike trailers, baby joggers and towing products under the Thule brand. It also makes laptop and camera bags, backpacks and cases for mobile handheld devices under the Thule and Case Logic brands. It employs approximately 2,900 people at more than 45 production facilities and generated sales of SEK5.1 billion, or $782 million, in 2013.
More news about Thule ? Use the search engine at the right top
Based in Sweden, Thule Group makes equipment and carriers for cycling, water and winter sports, roof racks, roof boxes, bike trailers, baby joggers and towing products under the Thule brand. It also makes laptop and camera bags, backpacks and cases for mobile handheld devices under the Thule and Case Logic brands. It employs approximately 2,900 people at more than 45 production facilities and generated sales of SEK5.1 billion, or $782 million, in 2013.
More news about Thule ? Use the search engine at the right top
Aucun commentaire:
Enregistrer un commentaire