The Thule Group has acquired TracRac Inc., a manufacturer of branded truck racks and accessories in the U.S. Terms were not disclosed.
Headquartered in Fall River, MA, where it both designs and manufactures under the same roof, TracRac makes rack systems, accessories and workstations. Its customers include both professionals and sport enthusiasts.
Thule Group said the acquisition is fully in line with its overall strategy to further increase the Group's presence in product categories around transporting equipment for professional tradesman as well for private use in different outdoor segments.
“The acquisition of TracRac Inc. will complement our current UWS and DeWALT branded products designed for the professional contractor segment,” remarked Fred Clark, Thule Inc. President. “TracRac is an innovative company with a portfolio of products that will supplement our current product offering in a very good way. This acquisition is also a perfect fit with our corporate philosophy of simplifying our consumer's transportation of their equipment.”
“By joining the Thule Group, TracRac will be able to expand its retail presence in North America,” remarked Scott Moran, CEO of TracRac Inc. “Thule has proven that they are serious about this market and we look forward to further expand our business together with their team.”
