Sweden’s Dometic Group AB has completed its acquisition of Igloo.
As announced on September 17, Dometic Group, a maker of accessories for motorhomes, caravans and boats, entered into an agreement to acquire Igloo from the private equity group ACON Investments. Completion of the transaction was subject to certain regulatory approvals that now have been completed.
Founded in 1947, Igloo is a provider of coolers and drinkware for the outdoor market. With “92 percent of net sales in the U.S. and products available in more than 90,000 retail stores global,” Igloo also has its own direct-to-consumer sales channel.
With its own manufacturing facility in Texas, products are primarily manufactured in-house for cost benefits, flexibility and shorter lead times for its North American market. Igloo has 1,100 employees and is headquartered in Katy, TX.
Dometic Group employs approximately 7,700 people worldwide, had net sales of SEK 16.2 billion in 2020 and is headquartered in Stockholm, Sweden.
“I am excited to welcome Igloo and its employees to Dometic. This acquisition is in line with our strategy to position Dometic as a more consumer-driven, less cyclical company in the fast-growing outdoor business. North America is the largest market for cooling boxes and outdoor products and, with Igloo’s strong brand recognition, consumer knowledge and local manufacturing capabilities, we are getting the necessary tools to further drive our sales and margin expansion.” said Juan Vargues, president and CEO, Dometic Group.
Photo courtesy Igloo
