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Belron acquires Mobilglas Denmark for $6 million

Post Time:Nov 20,2008Classify:Industry NewsView:196

D'Ieteren officials announced Nov. 17 that Belron has completed the acquisition of Mobilglas Denmark, the second largest auto glass repair and replacement specialist in the Danish market, for about $6 million.

Officials also noted that challenging conditions in and outside Europe reduced the size of the vehicle glass repair and replacement markets this year.

"Year-to-date, Belron's reported sales growth was around 7 percent, consisting of 6 percent organic and 7 percent acquired growth, offset by a 6 percent adverse currency impact, mainly due to the weak Sterling and U.S. dollar against the Euro," according to the D'Ieteren statement.

"Outside Europe...year-to-date, sales growth amounted to around 12 percent, of which 16 percent was attributable to the acquisitions in the United States of Safelite Group and Diamond Glass," it continued.

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Source: http://www.glassmagazine.com/news-item/auto/belron-acquires-mobilglas-denmark-6-millionAuthor:

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