Polish joining technology distribution business acquired
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A global market and technology leader for engineered joining technology, the Norma Group has agreed to acquire the distribution business for joining technology of Variant SA for an unspecified figure.
Variant is a Krakow, Poland-based company which sells joining products and cable ties and has been a distribution partner of the Norma Group for more than 20 years. Products are sold to over 1,000 retailers and wholesalers across Poland. End customers include home improvement stores, garages and specialist retailers for automotive supplies.
The company generated revenues of around EUR 5 million in financial year 2012 and will be consolidated as part of Norma Group with immediate effect.
Norma Group has been in Poland since 1989 and has been operating a production facility in Pilica since 2000. A new distribution centre has been established in Moscow, Russia last year. "We will gain an experienced distribution team in Poland and look forward to expanding both our product offering in cable ties and our client base in Eastern Europe," explained Werner Deggim, CEO of the group. "We intend to leverage Variant's long-standing expertise to further build our distribution activities across Eastern Europe. This will enable us to service our clients in this European high-growth region even better."
