Hultafors Group AB today acquires its reseller in Italy, Nordtec SRL GmbH. With this acquisition, Hultafors Group will further increase its sales efforts in Italy.
The acquisition is a natural step in the growth strategy of Hultafors Group, which encompasses the Hultafors Tools, Wibe Ladders and Snickers Workwear brands. The aim is to create further possibilities of growth and coordinate sales of the brands in Italy. Hultafors Group has a demanding growth target that will be achieved through acquisitions and organic growth. Nordtec SRL had a turn-over in 2012 of SEK 20 million and 9 employees.
Gothenburg 7 March, 2013
Investment AB Latour (publ)
Jan Svensson, CEO
For further information please contact:
Alexander Wennergren Helm, CEO Hultafors Group, tel. +46 708 20 33 00
Snickers Workwear is one of Europes leading brands in the field of work wear for craftsmen and the brand is represented in 23 countries and post-acquisition annual revenues of SEK 700 million. Hultafors is more widely known as the worlds leading manufacturer of folding rules and as the market leader in the Nordic region for hand-held tools. In 2005, Hultafors acquired Wibe Ladders and in 2006 it purchased Snickers Workwear. The three brands are part of Hultafors Group which has an annual turnover of SEK 1.2 billion and represents the hand tools business area within Investment AB Latour.
Investment AB Latour is a mixed investment company consisting of an investment portfolio with a market value of about SEK 20 billion and wholly owned industrial operations with total net sales of close to SEK 7 billion