World News: Garmin to acquire Spanish distributor

World News:  Garmin to acquire Spanish distributor

Garmin has signed a letter of intent for the proposed acquisition of Electrónica Trepat, the principal distributor of Garmin’s consumer products in Spain.

The completion of the acquisition is subject to the negotiation and execution of a definitive acquisition agreement, the completion of legal and financial due diligence and customary closing conditions.

“The proposed acquisition of Electrónica Trepat is a further step in our ongoing strategy to strengthen Garmin’s presence in key European markets through vertical integration and to enhance our ability to support our key retailers and OEMs in these markets,” said Dr. Min Kao, Garmin’s chairman & CEO.

Financial terms of the proposed transaction were not released.

Following the acquisition, Electrónica Trepat is expected to change its name to Garmin España. The company will retain its management, sales, marketing and supporting staff, and will continue operations at its current HQ and warehouse facility located close to Barcelona.

Earlier this month Garmin completed the acquisition of its German distributor, GPS Gesellschaft für Professionelle Satellitennavigation, and in January, acquired its French distributor, EME Tec Sat.

Leave a comment

Your email address will not be published. Required fields are marked *