Biz services group borgs French distie
Irish distie says oui
Irish distributor and business services group DCC has bought French consumer distie Comtrade SA for €11.4m.
Comtrade employs 65 people and flogs iPod docking stations, portable hard drives, speakers and other computer accessories.
DCC group's Sercom division is moving to extend its product and market reach.
The French firm made a profit of €3m on revenues of €65.2m for the year ended 31 December 2009. DCC gets a 74 per cent stake in the company and hopes to close the deal in October. There is a three-year earn out deal - if Comtrade hits targets then DCC will acquire the remaining shares at the end of each financial year up until 2013.
Tommy Breen, chief executive of DCC, said there was an excellent fit between the two businesses.
The takeover needs approval from French regulators. ®