Dorel Home Closes Notio Living AcquisitionMontreal, Quebec -
Dorel Industries Inc. (TSX: DII.B, DII.A) today announced it has completed its previously-announced acquisition of Notio Living. Dorel Home, a segment of Dorel Industries, is buying the Danish-based company for approximately US$19.0 million. Notio Living markets thousands of products sourced from around the world, has been in the home furnishings business for 25 years and operates throughout Europe with a strong presence in the ecommerce market.
“This transaction provides a tremendous opportunity to accelerate Dorel Home’s strategy for growth. The combination of our existing strong portfolio of products and brands with Notio’s distribution capabilities in mainland Europe will significantly augment Dorel Home’s European business where we currently have a successful presence in the United Kingdom,” stated Dorel Home President, Norman Braunstein.
Dorel Industries Inc. (TSX: DII.B, DII.A) is a global organization, operating three distinct businesses in juvenile products, bicycles and home products. Dorel’s strength lies in the diversity, innovation and quality of its products as well as the superiority of its brands. Dorel Juvenile’s powerfully branded products include global brands Maxi-Cosi, Quinny and Tiny Love, complemented by regional brands such as Safety 1st, Bébé Confort, Cosco and Infanti. Dorel Sports brands include Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse. Dorel Home, with its comprehensive e-commerce platform, markets a wide assortment of domestically produced and imported furniture. Dorel has annual sales of US$2.8 billion and employs approximately 8,200 people in facilities located in twenty-five countries worldwide.
Caution Regarding Forward-Looking Statements
Certain statements included in this press release may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws, including, without limitation, statements regarding Dorel Home’s growth strategy following the acquisition of Notio Living. Such forward-looking statements are subject to important risks and uncertainties including, without limitation, the integration of Notio Living by Dorel Home. Accordingly, there can be no assurance as to the benefits that Dorel Industries will derive from the acquisition of Notio Living. Consequently, Dorel Industries cautions readers not to place undue reliance on the forward-looking statements and information contained in this press release. Except as may be required by Canadian securities laws, Dorel Industries does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.