Garmin Acquires Distributor

November 1, 2010
SGB Update

In a recent acquisition, Garmin purchased full rights to Belanor AS, the distributor of Garmin’s automotive, outdoor recreation, fitness and marine products in Norway, for an undisclosed sum.

As a result of the acquisition, Belanor AS will be renamed Garmin Norge AS, while retaining its management, sales, marketing and supporting staff. In addition, the company will continue operations at its current headquarters and warehouse facility located in Dilling, Norway, one hour south of Oslo.

Garmin Acquires Distributor…

June 2, 2008
SGB Executive
by

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. The company will continue operations at its current headquarters and warehouse facility located in Brussels. Terms of the deal were not disclosed.


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.”

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