DCC Technology, which trades under Exertis, announced the acquisition of Almo Corporation in North America. The deal is the biggest yet in the parent company’s history. The move extends Exertis’ international scale in the pro-AV sector while also ramping up its expansion in the North America Market. This acquisition builds on other acquisitions in North America including Stampede, Jam Industries, The Music People, and JB&A.
“The acquisition of Almo Corporation is the largest in DCC’s history and signals our confident and ambitious intent to expand DCC Technology. By integrating Almo with our North American Business, we will form the largest specialist Pro AV business in North America. Almo’s 75-year history of growth and success, combined with its longstanding relationships with industry partners and its ability to continually innovate and expand will be great assets to Exertis. In turn, we will bring significant economies of scale, global supply chain access, and other benefits to the customers of Almo Corporation,” said Tim Griffin, DCC Technology & Exertis Managing Director.
Almo Corporation is the largest distributor of mainstream appliances, delivering a comprehensive portfolio of products including full kitchen packages with essential appliances. In addition, it is the leading distributor of premium appliances, serving retailers and builders designing luxury residential installations for refrigeration, ventilation, and cooking in both indoor and outdoor settings.
Almo’s 75-year-old, third-generation business brings 660 employees, nine distribution centers, and more than 2.5 million square feet of warehouse space across the U.S. Almo will continue to be operated by the Chaiken Family, with Waren Chaiken as President and CEO and Gene Chaiken as Chairman. The combined Exertis and Almo Pro AV division will in due course be led by Sam Taylor, current Executive Vice President and COO of Almo Pro AV.
Warren Chaiken, Almo Corporation President & CEO says, “Having just completed a year-long celebration of 75 years of growth and business success, the time is right to give our manufacturer and channel partners a truly global distribution stage so they can operate their businesses at a greater capacity, leverage more buying power and the ability to compete for a more comprehensive position in the global supply chain. We are committed to growing with our partners by remaining their value-added distributor with a larger scale and access to more products, more services, and more financial support. For them, this transition will be seamless in that we will operate business as usual.”
Check out Exteris’ website for more information on the acquisition.