Press release 29.03.2012
Hultafors Group reinforces its position in the European market – acquires the Snickers Workwear franchise company in The Netherlands.
Hultafors Group AB today acquires Snickers Original BV in The Netherlands. With this acquisition, Hultafors Group will further increase its sales efforts in The Netherlands.
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 create further possibilities of growth and coordinate sales of the brands in The Netherlands.
Hultafors Group has a demanding growth target that will be achieved through acquisitions and organic growth. This acquisition 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 Netherlands market.
Snickers Workwear is one of Europe's leading brands in the field of work wear for craftsmen and the brand is represented in 23 countries and post-acquisition annual revenues of SEK 700 million.
Hultafors is more 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 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 SEK 1.2 billion and represents the hand tools business area within Investment AB Latour.