Dometic acquires Cadac International

Dometic acquires Cadac International

16.09.2021: On September 16, 2021, Dometic entered into an agreement to acquire Cadac International – a provider of premium barbecues and accessories to the vehicle based outdoor market.

 
On September 16, 2021, Dometic entered into an agreement to acquire Cadac International – a provider of premium barbecues and accessories to the vehicle based outdoor market.
 

 
 
 
SUMMARY



•    This transaction strengthens Dometic’s product offering and distribution network for the growing vehicle based outdoor market.


•    Net sales of Cadac in 2020 were approx. EUR 17 million with a good operating margin.


•    The transaction is expected to be accretive to Dometic’s EPS from start.



DESCRIPTION OF CADAC



Cadac is a provider of premium outdoor barbecues and accessories to mainly the vehicle based outdoor market. The products are sold primarily across Europe through a network of more than 600 dealers and their own B2C e-channels.
Net sales in 2020 were approx.



EUR 17 million with a good operating margin. The company is privately owned and has approximately 40 full-time employees.





BACKGROUND AND REASONS FOR THE TRANSACTION



Dometic has identified the vehicle based outdoor market as a strong growth opportunity as more and more people spend time outdoors using a vehicle or boat as the base. Cadac, with its offering of premium outdoor barbecue products, is a perfect fit to Dometic’s existing offering of cooling boxes, tents, mobile power solutions and other outdoor equipment.



"I am pleased to welcome Cadac and its employees to Dometic. With this acquisition we are strengthening our offering and distribution network for the growing outdoor lifestyle market. Our strategy for profitable expansion in Mobile Living is built on a combination of organic and acquisitive growth. This is our seventh announced acquisition this year and our pipeline of potential future acquisitions remains strong." says Juan Vargues, President and CEO of Dometic.



The acquisition is fully financed via cash on hand and is expected to be accretive to Dometic’s EPS from start.
The transaction price is not material in relation to Dometic’s market capitalization and is not disclosed. Closing is expected to take place during the fourth quarter of 2021. Cadac will be reported as part of segment EMEA.

 
 
 
About Dometic


Dometic is a global market leader in branded solutions for mobile living in the areas of Food & Beverage, Climate, Power & Control and Other Applications. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Our motivation is to create smart and reliable products with outstanding design. We sell our products in approximately 100 countries and we have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of more than SEK 16.2 billion (USD 1.8 billion) in 2020 and is headquartered in Stockholm, Sweden.





Minako Nakatsuma Olofzon- photos Dometic

Permanent-URL: http://www.automobilsport.com/dometic-acquires-cadac-international---228523.html

16.09.2021 / MaP

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