DCC acquires French electronics distributor

SALES, marketing, distribution and business support services group DCC has acquired French-based consumer electronics distributor Comtrade for a total of around €21.2m.

DCC has acquired 74% of Comtrade’s share capital. The acquisition is due to be completed in October. The remaining shares will be acquired based on Comtrade’s trading results for each of the three years ending March 31, 2013. The initial consideration payable is €11.4m. The maximum deferred payment is €9.8m.

Comtrade distributes products such as iPod and MP3 docking stations, speakers and portable hard drives from suppliers such as Altec Lansing, Western Digital and iHome to French retailers such as Carrefour, E.Leclerc, Auchan and FNAC and to a wide range of internet, supermarket and specialist electronics retailers.

Dublin-based DCC had previously acquired Banque Magnetique, a larger distributor of retail electronics in France. Last year it acquired two oil distribution businesses in Germany and Austria.

DCC chief executive Tommy Breen said: “Overseas acquisitions are always easier said than done, but it’s fair to say that in a few years, we hope there will be a few more. It is always a challenge to predict the best timing for new acquisitions, but with DCC Energy in particular we will be looking carefully to achieve further growth through overseas acquisition in Germany and Austria.”