Bergman & Beving, an operating segment in the B&B TOOLS Group, has today acquired 100 percent of the shares in Arbesko Gruppen AB. With its own product development and production operations in Sweden, Arbesko is one of the strongest brands for safety and work footwear in the Nordic region. Arbesko Gruppen has annual revenue of approximately MSEK 200 and some 120 employees.
Arbesko is a successful family company with its own research, product development and production operations for safety and work footwear for professionals. The company, which was founded in 1839, and Arbesko has been the leading brand in the Nordic region for many years and is also established in several European markets. Sales are conducted in close cooperation with several of the Nordic region's leading construction and industrial resellers.
Arbesko's high-tech footwear is designed to meet the high demands of professional customers when it comes to quality and comfort and offers a wide range of unique functions.
"Arbesko is a well-established company with highly skilled employees, a strong brand, good customer relationships and a strong position in the Nordic market," says Pontus Boman, Executive Vice President of B&B TOOLS. "The acquisition is fully in line with Bergman & Beving's strategy, according to which our product companies are to develop premium brands in various product and application areas for professional users in construction and industry. We anticipate excellent opportunities for further development and growth for Arbesko as part of Bergman & Beving."
In accordance with the Group's philosophy of decentralised business responsibility, Arbesko will continue to operate as an independent product company under Bergman & Beving.
"With its clear focus on premium brands, Bergman & Beving was the natural choice when it came to finding a new owner to develop Arbesko in the future," says Peter Geisler, Managing Director and owner of Arbesko Gruppen. "Tomorrow's market will require the capacity and resources for continuous development, which Bergman & Beving offers. We at Arbesko look forward to continuing our positive, long-term development together with our customers and resellers - and with a new, strong owner who shares our values and goals."
Closing took place today 3 April 2017. The acquisition is expected to have a marginally positive effect on B&B TOOLS' earnings per share during the current financial year.
Stockholm, 3 April 2017
B&B TOOLS AB (publ)
For further information, please contact:
Pontus Boman, Executive Vice President, B&B TOOLS AB, Tel: +46 10 454 77 00
Mats Karlqvist, Head of Investor Relations, B&B TOOLS AB, Tel: +46 70 660 31 32
This information was submitted for publication on 3 April 2017 at 13:00 p.m. CET.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: B&B TOOLS via Globenewswire
