Hultafors Group reinforces its position on the Nordic market

– acquires franchise companies from Snickers Workwear in Denmark and Norway

Hultafors Group has signed an agreement for the acquisition of the franchise companies for Snickers Workwear in Denmark and Norway. Hultafors has owned Snickers Workwear AB since December 2006 and with this latest acquisition the company will further boost its grasp of sales operations on the Nordic market.

These acquisitions are a natural step in the growth strategy of Hultafors Group, which encompasses the Hultafors Tools, Wibe Ladders and Snickers Workwear brands. The aim is to coordinate sales of the three brands in the Nordic area.

“With this acquisition, we will further strengthen the market position of Snickers Workwear and create a platform for the development and streamlining of sales for all the brands in the Hultafors Group on the Nordic market,” says Bo Jägnefält, President of Hultafors Group. “Our growth target for Hultafors Group is 10% per year and this will take place both through organic growth and acquisitions. With these acquisitions we are increasing our sales by 70 million kronor a year.”

Snickers Workwear is one of Europe’s leading brands in the field of workwear for craftsmen and the brand is represented in 20 countries.

Hultafors is most widely known as the world’s leading manufacturer of folding rules and as the market leader in the Nordic region for hand-held tools in the areas of measure & mark and chopping & striking.

In 2005, Hultafors acquired Wibe Ladders and in 2006 it purchased Snickers Workwear. The three brands are part of Hultafors Group which has an annual turnover of just over 1.1 billion Swedish kronor and represents the hand tools business area within Investment AB Latour.

Hultafors Group consists of the Snickers Workwear, Wibe Ladders and Hultafors Tools brands. Together they form a unique product family for professional craftsmen who want products on which they can rely. Hultafors Group has 650 employees and has sales operations on more than 40 markets the world over.