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Supreme acquires Vendek for €1.82 million

By BFN News | 09:39 AM | Friday 11 June, 2021


Supreme, one of Europe?s leading manufacturers, has announced its plans to acquire Vendek, a Dublin-based distributor of batteries and lighting products, for €1.82 million. Vendek operates under the Osram, Panasonic and Duracell brands and works exclusively within Ireland. Sandy Chadha, chief executive officer of Supreme, commented: ?We are delighted to be announcing what we believe to be a strategic acquisition in Vendek. This is our first transaction since our admission to trading on AIM, and not only expands our footprint in Ireland but provides an excellent platform from which to further penetrate the European markets.? For the years ending December 2019 and 2020, Vendek produced revenues of €4.7 million and €5.6 million. And as at 31 Decemebr 202, had assets of €2.5 million. The acquisition is expected to allow a strong foothold in the Irish market and will provide access to relationships with Ireland?s major retailers including Supervalu, Dunne Stores and Woodies. Story provided by StockMarketWire.com

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