Duell takes over Techno Motor Veghel
Duell Oyj has acquired TMV (Techno Motor Veghel BV), the well-known Dutch distributor of motocross and off-road products. The deal is important for Duell because it will enable the company to expand even more to enter the motocross market, mainly in the Benelux, but also in the rest of Europe.
The acquisition of TMV will add millions of euros to Duell's turnover. In addition, the company is supplementing its already extensive import portfolio with well-known new brands. Duell is one of the most important distributors of power sports products on the Scandinavian accessories market and is also experiencing rapid growth in the rest of Europe.
The company has now acquired Techno Motor Veghel BV (“TMV”), the well-known Dutch importer and distributor of motocross and off-road products, which occupies a leading market position in the motocross market in the Benelux, in both the professional and recreational market segments. TMV, founded in 1977, has been active in this sector for 45 years. The company is located in the so-called motocross heart of the Netherlands, Veghel, which is surrounded by numerous well-known motocross tracks. The transaction adds new well-known brands to Duell's already extensive import portfolio.
Jarkko Ämmälä, CEO of Duell Oyj: “We are extremely pleased with the just completed transaction, which further strengthens our position in Europe, this time in particular in the motocross market. TMV is a very strong and well-known player in motocross, which is why the deal is particularly important for us. We are actively pursuing growth in the European market and are now one step closer to achieving our goal. All TMV employees will be transferring to Duell and we are pleased to have more top talent on board. Together we will accelerate the growth of our company in the Benelux and the rest of Europe.”
Herman Zijerveld, CEO of TMV: “We look forward to our future collaboration and are proud to be part of Duell's success story. By joining our Scandinavian strengths with Dutch commercial expertise, we will be able to get the best out of the collaboration. Duell's determined attitude fits perfectly with TMV's ambitions. So I am confident that together we will be able to grow faster than we ever thought possible, and serve our customers, partners and staff even better.”
Last year marked an important step in Duell's history with the company's listing on the Helsinki Nasdaq First North Growth Market at the end of the year. Growth, especially in the European market, is one of the company's main goals. The growth strategy was well implemented in the past year when the company completed three important acquisitions, namely those of the French Tecno Globe, the Dutch IGM Trading BV, and the Grand Canyon GmbH company. In the first quarter as a listed company, Duell got off to a good start and was already able to report significant revenue growth.
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