Lighting and electronics specialist, Hella has successfully concluded the sale of the Danish and Polish wholesale businesses, FTZ and Inter-Team.
After approval by antitrust authorities, both companies were transferred to the Swedish wholesaler Mekonomen. Subject to the terms of the transaction, the purchase price amounts to EUR395m (US$458m).
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“We are delighted about the successful conclusion of the transaction,” said Hella Aftermarket and Special Applications managing director, Werner Benade.
“From now on we will be able to focus our aftermarket activities even more on the two strategic columns independent aftermarket and workshop equipment. In particular, we are thus going to advance the interaction between both areas and accelerate the development of new digital business models.”
FTZ and Inter-Team employ a total of around 2,500 people.
In the last fiscal year for 2017/2018, the two wholesalers achieved total sales of around EUR500m. This corresponds to around 7% of Hella’s group consolidated sales.
