Investment AB Latour has today, through its business area Hultafors Group, entered an agreement to acquire Tradeport AB. The acquisition is a part of the growth strategy of Hultafors Group, which encompasses the Hultafors tools, Wibe ladders and Snickers workwear brands. The acquisition will complement the brand portfolio with premium safety shoes, workwear and accessories. Closing is expected to take place during the month of November.
Tradeport is a Swedish company offering premium safety shoes and workwear clothing. The assortment is built around the own brands Solid Gear, Toe Guard and Dunderdon which are complemented by Puma safety shoes to be able to offer the best product assortment on the market. Tradeport has a turnover of SEK 68 m and 23 employees and is mainly active on the Swedish market.
As part of the acquisition, Tradeport’s founders Andreas Westling and Johan Hult with the rest of the team will join Hultafors Group.“ I am very thrilled about this opportunity. We believe that through Hultafors Group’s well established distribution channels, we have an exciting opportunity to increase our growth rapidly” said Andreas Westling, CEO of Tradeport AB.
“The fit between Tradeport and Hultafors Group is perfect in terms of product ranges and geography, and our brands also strive to keep our users at the forefront”, said Johan Hult, founder of Tradeport AB.
“This is a natural step to become the leading company within construction and industry equipment for professional workers” said Alexander Wennergren Helm, CEO of Hultafors Group. “The acquisition of Tradeport extends our offer of high value brands in the right direction to become the first choice among customers and professional workers.”
Göteborg, November 5, 2014
Investment AB Latour (publ)
Jan Svensson, CEO
For further information please contact:
Alexander Wennergren Helm, CEO Hultafors Group, +46 708 20 33 00
Jan Svensson, President and CEO Investment AB Latour, +46 705 77 16 40
Hultafors Group offers a dynamic range of premium brands to rely on – for distributors and craftsmen alike. Each brand in the Hultafors Group is united in a common passion: to keep craftsmen at the forefront in terms of functionality, safety, protection and overall productivity. Through its various brands Hultafors Group is represented in 40 countries and has over 10,000 point of sales. Hultafors Group has 620 employees and an annual turnover of about SEK 1.3 billion. Hultafors Group has a demanding growth target that will be achieved through acquisitions and organic growth.
Investment AB Latour is a mixed investment company consisting of an investment portfolio with a market value of about SEK 28 billion and wholly owned industrial operations with total net sales of about SEK 7 billion.