Garmin to buy Spanish Distributor
Looks like Garmin is setting up the groundwork for a more robust Euro distribution system, with a new letter of intent to buy a Spanish distribution company, Electrónica Trepat S.A. (“Electrónica Trepat”), the principal distributor of Garmin’s consumer products in Spain.
“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, chairman and CEO of Garmin Ltd.
Fernando Trepat, president of Electrónica Trepat said, "We are very pleased to be able to become fully integrated within Garmin and we look forward to continuing to expand Garmin’s sales in Spain."
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Posted by Scott Martin at July 17, 2007 8:33 PM
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