Garmin Ltd. completed the acquisition of Formar Electronics N.V./S.A., the distributor of Garmin's automotive, outdoor recreation, fitness and marine products in Belgium and Luxembourg. The company will be renamed Garmin Belux N.V./S.A. and will retain its management, sales, marketing and supporting staff, consisting of 25 people and will continue operations at its current headquarters and warehouse facility located in Brussels.

Dr. Min Kao, chairman and CEO of Garmin Ltd., said, “Our strategy of acquiring key distributors in Europe has enabled us to increase our market share in Europe and we are now delighted to welcome the Formar team into the Garmin family. Formar has been successful in creating a strong presence for the Garmin brand in Belgium and Luxembourg. We anticipate the completion of this acquisition will enable us to expand on that success by improving our ability to support the key retail channels and OEMs in these countries.”

Benoit de Bergeyck, managing director of Formar said, “We are very pleased that Garmin now has an office in the capital of Europe and we intend to work hard as Garmin Belux to build on our past success with the increased efficiencies that can be achieved as an integrated part of the Garmin European marketing and sales organization.”

Financial terms of the transaction were not released.