Malmö, April 30, 2007 - Thule AB, the world leader in Sports Utility Transportation, acquires Case Logic, Inc. and all subsidiaries of the US based storage and organization solutions company. Case Logic is a leading player of storage solutions and lifestyle accessories in both the US and Europe with a growing presence in the Latin and Asia Pacific markets. Case Logic has annual sales of approximately $140 million and 250 employees around the world. The acquisition will allow Thule to expand its presence in the storage and organization market, as well as several other related markets. The acquisition is conditional upon various factors including clearance from European anti-trust authorities.
Case Logic acquisition adds a highly complementary line of products to
our core line of smart transportation solutions based on functional
design. Thule and Case Logic are serving the same end consumer groups,
active people that need an accessory to bring their equipment with them
safely, easily and in style. A large percentage of Case Logic's
products are offered around or inside the car, where Thule has its
strong base", comments Anders Pettersson, President and CEO of Thule.
are very excited to join the Thule family and look forward to gaining
access into new markets and growing our existing business. We are
convinced that our business partners and employees will benefit from
the companies' mutual commitment to making high quality products for
active consumers", comments Tom Sandler, CEO for Case Logic.
For further information please contact:
Anders Pettersson, President and CEO, phone: +46 (0) 703 414150
Daniel Oelker, SVP Corporate Communication, phone: +46 (0) 730 799004
is the world leader within Sports Utility Transportation, delivering
transportation solutions for active families and outdoor enthusiasts
wanting to transport their equipment by vehicles safely, easily and in
style. The product portfolio comprises load carriers for cars such as
rooftop boxes, roof rails and bike carriers. Additionally, the company
offers snow chains, trailers, towing systems as well as accessories for
motor homes and caravans. Thule has approximately 3,900 employees at
over 30 production and sales locations in all major car markets in
North America, Europe, Africa and Asia. Sales for 2006 amounted to 4.2
billion SEK (USD ~600 million). Thule AB is based in Malmö, Sweden, and
majority owned by UK-based private equity firm Candover. More
information is available at www.thule.com. Jefferies & Company,
Inc. acted as financial adviser to Thule in this transaction.
About Case Logic, Inc.
Logic is a worldwide leading designer and distributor of innovative,
high-quality storage and organization solutions used in many different
aspects of a consumer's daily life. Deriving from traditional solutions
such as product lines for CD's ,DVD's, MP3 Players, Laptops, and
Cameras, Case Logic has expanded recently into lifestyle-oriented
products within the travel and luggage market. The company was founded
in 1984 and is headquartered in Longmont, Colorado. More information is
available at www.caselogic.com.
Thule acquires Case Logic Inc.Tuesday, 01 May 2007
Thule AB, the world leader in Sports Utility Transportation, acquires Case Logic, Inc. and all subsidiaries of the US based storage and organization solutions company.
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