Garmin to acquire Swedish distributor

Garmin to acquire Swedish distributor
Garmin announced on Friday that it has signed a letter of intent for the acquisition of Sportmanship International AB, its distributor of consumer products in Sweden. The acquisition is expected to be completed in December 2008.

Financial terms of the transaction were not made public. Following the acquisition, Sportmanship is expected to change its name to Garmin Sweden AB. The company will retain its management, sales, marketing and supporting staff, consisting of 28 people.

Garmin continues its strategy of distributors’ acquisition across Europe: Sportmanship is the eighth company of this kind to be bought by the U.S. company.

Monday, October 6th 2008

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