MalmÃ¶, April 30, 2007 - Thule AB, the world leader in Sports Utility Transportation, acquires Case Logic, Inc. and all subsidiaries of the US based storage and organization solutions company. Case Logic is a leading player of storage solutions and lifestyle accessories in both the US and Europe with a growing presence in the Latin and Asia Pacific markets. Case Logic has annual sales of approximately $140 million and 250 employees around the world. The acquisition will allow Thule to expand its presence in the storage and organization market, as well as several other related markets. The acquisition is conditional upon various factors including clearance from European anti-trust authorities.
â€œThe Case Logic acquisition adds a highly complementary line of products to our core line of smart transportation solutions based on functional design. Thule and Case Logic are serving the same end consumer groups, active people that need an accessory to bring their equipment with them safely, easily and in style. A large percentage of Case Logic's products are offered around or inside the car, where Thule has its strong baseâ€, comments Anders Pettersson, President and CEO of Thule.
â€œWe are very excited to join the Thule family and look forward to gaining access into new markets and growing our existing business. We are convinced that our business partners and employees will benefit from the companies' mutual commitment to making high quality products for active consumersâ€, comments Tom Sandler, CEO for Case Logic.
For further information please contact:
Anders Pettersson, President and CEO, phone: +46 (0) 703 414150
Daniel Oelker, SVP Corporate Communication, phone: +46 (0) 730 799004
Thule is the world leader within Sports Utility Transportation, delivering transportation solutions for active families and outdoor enthusiasts wanting to transport their equipment by vehicles safely, easily and in style. The product portfolio comprises load carriers for cars such as rooftop boxes, roof rails and bike carriers. Additionally, the company offers snow chains, trailers, towing systems as well as accessories for motor homes and caravans. Thule has approximately 3,900 employees at over 30 production and sales locations in all major car markets in North America, Europe, Africa and Asia. Sales for 2006 amounted to 4.2 billion SEK (USD ~600 million). Thule AB is based in MalmÃ¶, Sweden, and majority owned by UK-based private equity firm Candover. More information is available at www.thule.com. Jefferies & Company, Inc. acted as financial adviser to Thule in this transaction.
About Case Logic, Inc.
Case Logic is a worldwide leading designer and distributor of innovative, high-quality storage and organization solutions used in many different aspects of a consumer's daily life. Deriving from traditional solutions such as product lines for CD's ,DVD's, MP3 Players, Laptops, and Cameras, Case Logic has expanded recently into lifestyle-oriented products within the travel and luggage market. The company was founded in 1984 and is headquartered in Longmont, Colorado. More information is available at www.caselogic.com.