Declaration of intent to acquire TreCe AB
Glimakra of Sweden AB, which is part of the Garpco Group, has signed one binding declaration of intent to acquire TreCe AB.
Garpco’s subsidiary Glimakra of Sweden is a supplier of furnishings for offices and the public environment focusing on sound absorbing products with very high design content. Glimakra has two own factory units, in Glimåkra and Tranås.
“This is an ideal acquisition, as Glimakra and TreCe are two companies with very similar culture and ‘spirit’. Since our products complement each other in a nice way, we can cooperate, for example, in exports with common forces without interfering in each other’s areas. It will be a very exciting future, together we will be stronger! ”says CEO Anders Barrklint.
As part of the Garpco Group’s business model, organic growth is taking place parallel with additional acquisitions in our existing business legs. Supplementary acquisitions are sought for profitable and well-managed companies, preferably with niche products and an existing strong market position.
TreCe is a company that has historically focused on storage furniture and is one of the Nordic region’s leading players in this area. In the later this year the area of source sorting has increased substantially and a number of these have been developed highly designed products that have won great success in the market.
TreCe has its head office in Norrköping but also Showroom and staff in Stockholm and Oslo. In total, the company has 21 employees and a turnover of about SEK 76 million.
Glimakra has now signed a binding and exclusive declaration of intent to acquire TreCe. Garpco’s CEO Markus Strand describes the planned acquisition: “Glimakra and TreCe are two very strong brands that operate within the same industry and have complementary products. This enables one future cooperation and leads to positive synergies ”. The companies will continue to operate as completely separate companies with a retained organization. Unlike TreCe, Glimakra has its own production. This allows certain product ranges to be manufactured in Glimakra’s existing production.
“Being able to quickly develop new ones on your own products are important in a tough market competition ”, CEO Markus Strand concludes.
The parties work in a due diligence processa planned entry during the month of November.
Questions are answered by CEO Markus Strand, +46 (0)705-422530.