ALSO acquires Apple distributor Five4U
ALSO Holding AG (SIX:ALSN) announces that it is in exclusive talks to acquire Dutch Apple and supplies distributor Five 4U, which also carries products of some 50 other brands. Five 4U was founded in 1992 and forecasts a revenue of 285 million euros in the Benelux for 2016.
“Five 4 U is a perfect match for ALSO. Our portfolios are complementary. I am convinced that both Five 4U and ALSO will profit from the combination of the businesses”, says Gustavo Möller-Hergt, CEO of ALSO. “ALSO provides a broad international market access. At the same time the Benelux focus of Five 4 U will help ALSO to further increase its strong market share in the Netherlands, Belgium and Luxembourg”, adds Rien Slagter, CEO of Five 4U.
ALSO expects to sign the acquisition agreement in Fall 2016, after completion of the due diligence.
This take-over fits the consolidation trend in the low-margin IT distribution market, in which local distributors are acquired by global or regional ones to benefit from economies of scale.