Thule has acquired the Swedish trailer manufacturer Star Industrier AB, Bromölla. The company will be consolidated into the Thule Group with effect from January 1st 2005.
“The acquisition of Star Trailers strengthens our position within the horse trailers segment in Scandinavia and gives us access to a more effective production and distribution, comments Anders Pettersson, President and CEO of the Thule Group.
Star Trailers has annual net sales of approximately SEK 40 M ($5.5 mm) and produces yearly about 1,500 trailers, of which 500 are horse trailers. Star Trailers owned by Mr Tonnie Ritterstam is the leading manufacturer of horse trailers in Sweden with a market share of 20%. The company, with 20 employees and component production and assembly, will be integrated into Division Trailers with brands like Brenderup, Thule Rental, Kyllinge and Fogelsta.
“The acquisition gives us opportunities foremost within a strengthened distribution, comments Division President Kenneth Lundahl. “Our goal is to keep the employees in Bromölla and develop the operations further, adds Kenneth Lundahl.
“Thule as new owner for the company was the natural choice for further development of the company”, says the current owner Tonnie Ritterstam.
Division Trailers located in Brenderup, Denmark has annual net sales of SEK 550 Million ($75.0 mm) and 400 employees. The division represents 20% of the Thule Group sales and is market leader for trailers in Scandinavia offering a full product range consisting of horse- and boat trailers as well as commercial and consumer trailers.
