STOCKHOLM (BRAIN) — Thule Group has acquired the Dutch company GMG B.V., a child bike seat brand that sells in the Benelux market.
GMG B.V. had sales of 6.1 million euros ($6.8 million) in 2015, mostly under the brand Yepp.
"I am happy to add the strong product assortment from GMG B.V. to our already impressive product portfolio within the 'active with kids' product category. The acquisition of GMG B.V. is complementary to our existing Thule RideAlong child bike seat assortment and fits our strategy to grow in this key category with strong growth from recent launches of e.g. the Thule Glide jogging strollers and the Thule Sapling child carrier backpacks," said Magnus Welander, the CEO and president Thule Group.
GMG B.V. has six employees and offices in Zwanenburg, Netherlands. The total purchase price was 10 million euros.
