Assa Abloy: acquisition in Portugal

(CercleFinance.com) - Swedish lock maker Assa Abloy announced on Wednesday that it has acquired the hardware business of MR Group, a leading supplier of aluminum profile hardware and locks in Portugal.


The Swedish group explains that the transaction is part of its strategy to strengthen its more mature markets by acquiring activities that complement its core businesses.

Founded in 1976 in the city of Agueda, south of Porto, MR Group has about 380 employees and generates annual sales of around 23 million euros.

The acquisition - which will be accretive from the first year - is expected to be completed by the end of the summer.


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