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SUMMARY
· Dometic has entered into an agreement to acquire Twin Eagles, an US-based manufacturer and provider of freestanding and built-in grills and outdoor kitchen solutions for the residential outdoor market.
· Twin Eagles' annual net sales is
· The transaction is expected to be accretive to Dometic's EPS from start.
DESCRIPTION OF TWIN EAGLES
Twin Eagles is a North American provider of freestanding and built-in grills, outdoor refrigerators and other outdoor kitchen solutions for the mid to high end residential market. The company's products are sold under the brands Twin Eagles and
Twin Eagles' annual net sales is
Founded in 1999, Twin Eagles is headquartered in
BACKGROUND AND REASONS FOR THE TRANSACTION
Dometic has identified Residential outdoor as an area with strong potential for growth. Twin Eagles will be a strong asset in the offering on this growing market that is further fueled by consumers appetite for staycation and outdoor living.
"I am pleased to welcome Twin Eagles and its employees to the Dometic family. Twin Eagles fulfils all prerequisites that Dometic has set for acquired expansion, with proven profitable growth, strong market positions and strong management. The acquisition is part of our strategy of broaden our Residential product offering and expand into new vertical end markets. The customer feedback on our recently launched Dometic MoBar has been extremely positive and this acquisition will give us a unique position to expand sales in the fast-growing Residential outdoor market in
The acquisition is fully financed via cash on hand and is expected to be accretive to Dometic's EPS from start.
The transaction price is not disclosed. Closing is expected to take place during quarter 1, 2021.
This information is information that
Rikard Tunedal
Head of Investor Relations
Phone: +46 73 056 97 35
Email: ir@dometicgroup.com (ir@dometicgroup.com?subject=Request%20from%20Dometic%20website)
CFO
Phone: +46 76 141 45 39
E-mail: stefan.fristedt@dometic.com
ABOUT DOMETIC
Dometic is a global market leader in branded solutions for mobile living in the areas of Food & Beverage, Climate, Power & Control and Other Applications. Dometic operates in the
For more information on Dometic, please visit: http://www.dometic.com.
https://news.cision.com/dometic-group/r/dometic-acquires-twin-eagles---a-us-based-manufacturer-of-outdoor-grills-and-kitchen-solutions,c3277540
https://mb.cision.com/Main/10773/3277540/1366514.pdf
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