Supreme (AIM:SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer products, announces the acquisition of Vendek Limited (trading as Powerline), a leading Dublin-based distributor of batteries and lighting products.
Vendek was founded in 1996 and is profitable, cash generative and has reported consistent growth in recent years. The business operates exclusively within Ireland, distributing battery and lighting products under the Osram, Panasonic and Duracell brands and servicing some of the country’s leading retailers across DIY, hardware, convenience, and petrol stations.
With significant product and customer overlap across key categories, the acquisition of Vendek helps to create a hub from which to expand Supreme’s growing European footprint, as well as sizeable foothol in the Irish market.
Sandy Chadha, Chief Executive Officer of Supreme, commented:
“We are delighted to be announcing what we believe to be a strategic acquisition in Vendek. This is our first transaction since our admission to trading on AIM, and not only expands our footprint in Ireland but provides an excellent platform from which to further penetrate the European markets.
“I have personally known this business for a number of years and firmly believe the combination of our two Ireland operations will significantly accelerate our growth aspirations and foster potentially stronger levels of cross-sell opportunities across our categories.
“We look forward to welcoming Vendek into the Supreme group and updating shareholders on our progress over the course of the current financial year.”
For more information, please read our official press relese here.
Enquiries: Vigo Consulting (Financial Public Relations)
Jeremy Garcia / Antonia Pollock
supreme.vigoconsulting.com
+44 (0)20 7390 0230
