Stockholm 22 December, 2008 Press release Hultafors Group reinforces its position on the European market – acquires the franchise company from Snickers Workwear in United Kingdom Hultafors Group signs today through Snickers Workwear AB an agreement to acquire Snickers Original Ltd in United Kingdom. Snickers Workwear is part of the Hultafors Group since December 2006 and with the latest acquisition the company will further increase it’s sales efforts in United Kingdom. The acquisition is a natural step in the growth strategy for Hultafors Group. The acquisition is 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 brands in United Kingdom. Hultafors Group has a demanding growth target that will be achieved through organic growth and acquisitions. 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 British market, says Peter Andersson, CEO Snickers Workwear. Snickers Workwear is one of Europe’s leading brands in the field of workwear for craftsmen and the brand is represented in 23 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 1.2 billion SEK and represents the hand tools business area within Investment AB Latour.
Hultafors Group offer a dynamic range of premium brands to relay on. Snickers Workwear, Wibe Ladders and Hultafors Tools form together a powerful offer for distributors and craftsmen who want innovative and reliable products with maximum function, safety and ergonomics. Hultafors Group has 750 employees, an annual turnover of 1.2 billion SEK and sales operations on more than 40 markets the world over. www.hultaforsgroup.com |