Dometic to acquire cooler manufacturer
Dometic has entered an agreement to acquire the assets of IPV, a German-based aftermarket provider of coolers and other outdoor products. The acquisition strengthens Dometic’s position in the EMEA market for mobile coolers. The purchase price is EUR 3.5 million.
IPV filed for insolvency in August 2016, and Dometic has worked with the insolvency administrator and IPV to reach a deal where Dometic acquires selected assets including inventory, tools, equipment and some trademarks. The acquisition will add annual sales of approximately EUR 15 million to Dometic. Some 25 employees will remain in the business including representatives of the founding family.
”IPV provides a very suitable complement to our current cooler business. The acquisition will broaden our customer base as well as provide strong entries into Eastern Europe”, says Roger Johansson, President and CEO of Dometic.
The acquisition is expected to be completed on 3 January 2017.