Global positioning system products developer Garmin has acquired Electronica Trepat, the Spanish distributor of its consumer products to strengthen its presence in the European markets.
The completion of our acquisition of Electronica Trepat is a further step in our ongoing strategy to strengthen Garmin’s presence in key European markets through vertical integration, said Dr Min Kao, chairman and chief executive at Garmin.
We look forward to achieving further growth of Garmin’s sales in Spain and to realizing the benefits of full integration into the Garmin team, said Fernando Trepat, president at Electronica Trepat.
Following the acquisition, Electronica Trepat will be renamed as Garmin Iberia and will retain its management, sales, marketing and supporting staff, consisting of approximately 60 people. Garmin also said that it will continue operations at its current headquarters and warehouse facility located close to Barcelona.
To strengthen its market presence in Europe, Garmin has acquired many of its distributors this year. In January, Garmin acquired its French distributor EME Tec Sat and renamed it Garmin France. It also acquired its German distributor GPS GmbH in May and its Italian distributor Synergy in November. In October, the company also signed a letter of intent to acquire its Danish distributor Fairpoint Navigation.
Source: ComputerWire daily updates