Glen Dimplex to acquire Dimpco and Brownbrook

Glen Dimplex has agreed to acquire two domestic appliance distribution companies, Dimpco and Brownbrook for an undisclosed sum.

The two companies Dimpco and Brownbrook are leading distributors of domestic electrical appliances to the retail and wholesale industries in the south and north of Ireland respectively.

Dimpco is located at Cloghran, Co Dublin and Brownbrook at Craigavon, Co Armagh. With a combined annual turnover of €65 million, they employ 100 people.

Glen Dimplex Chief Executive, Sean O'Driscoll said: "Dimpco and Brownbrook have been the Glen Dimplex Group's long term distributors in the South and North of Ireland. With the consolidation in the European retail and wholesale industries, it is essential for the Group to have direct trading relationships with our key customers. Both companies have been tremendously successful and we plan to further extend their product range as part of the Glen Dimplex Group."

Dimpco and Brownbrook owner, Brendan McDonald, said: "This is a very positive step for the customers and employees of both companies. In an ever changing market place the businesses and product ranges will develop even more rapidly in the future as part of the Glen Dimplex Group."

Glen Dimplex, a privately owned Irish Group, has an annual turnover of €1.3 billion and employs 8,500 people worldwide of whom 2,500 are employed in Ireland.

The company has substantial electrical appliance manufacturing operations in Ireland, England, France, Germany, The Netherlands, Hungary and Canada.

Manufacturing operations in Ireland are located in Dunleer, Co Louth, Tralee, Co Kerry, Newry, Bangor, Co Down and in Portadown, Co Armagh.

The acquisition of Dimpco is conditional upon regulatory approval.

(SP)