(PRESS RELEASE) Inspecs Group plc announces that it has acquired the partnership assets and liabilities of BoDe Design Vertriebs GmbH & Co. KG (a limited partnership under German law) (“BoDe”), a distributor of optical and sunglasses frames principally to the German market. Inspecs is currently the largest supplier to BoDe and will pay an upfront cash consideration of approximately €1.76m from existing cash resources and deferred cash consideration based on financial performance over the next three financial years. BoDe is expected to generate revenues of approximately €3.75m in 2021 and the acquisition is expected to be earnings enhancing in 2022.
Robin Totterman, CEO of Inspecs commented: “I am pleased to welcome BoDe, a long established distributor of eyewear in Germany, Holland, Austria and Switzerland. We have worked alongside Stefan Boop and Matthias Deter for many years and they currently distribute Inspecs products as well as their own licensed brands Comma and ZWO.
“This acquisition continues our strategy of developing strategic distribution of our products to both chain and independent opticians around the world. We look forward to further synergies and working with the dynamic team at BoDe in the future.”