Thule will acquire the Belgian manufacturer of accessories for Recreational Vehicles, Omnistor Accessories NV. Omnistor, with annual sales of 34 million ($44 mm), manufactures awnings, safari rooms, vents, steps, rooftop boxes and bike carriers mainly for the RV aftermarket and the RV OEM market.
“Omnistors products serve the same end consumer segment active families and outdoor enthusiasts like Thules core business. The acquisition enlarges our product offer and opens new distribution channels for the entire Thule product portfolio” says CEO Anders Pettersson. “The acquisition is an important step in our buy and build strategy. Omnistor is highly profitable, has an excellent reputation in the market place and enjoys good growth projections going forward. The company will be integrated as a business unit into our European car accessories division”, he concludes.
“Thule is an ideal new partner for us”, says Hans De Smet, President Omnistor Accessories NV. “Thule and Omnistor share the same passion for serving active outdoor oriented consumers. The larger resources of the Thule Group will enable us to continue our expansion especially on new markets”, he adds.
Thule works on the market for sports utility transportation which is driven by a stable underlying growth trend. The Groups ambition is to double its size from currently SEK3 billion ($380 mm) in sales until 2007 through a combination of organic and acquired growth in product segments that enhance the Thule core businesses of car accessories, trailers and snow chains. The acquisition of Omnistor is the Groups fourth one since early 2004 after having integrated the US American recreational trailer manufacturer C&C Trailers and the Italian based international snow chains producer König S.p.A early 2004. Early 2005 Thule acquired the Swedish horsetrailer manufacturer Star Industrier.
