Malmö, Sweden — Thule, the Swedish supplier of “sports utility transportation” devices such as bicycle racks and rooftop boxes, has acquired Longmont, Colo.-based Case Logic for an undisclosed amount.
Case Logic, founded in 1984, rung up approximately $140 million in annual sales of storage bags and cases for portable CE devices, notebook PCs and media.
The deal nets Thule further entry into the storage and organization solutions market with a highly recognizable brand name. The acquisition is conditional upon various factors including clearance from European antitrust authorities.
“The Case Logic acquisition adds a highly complementary line of products to our core line of smart transportation solutions based on functional design. Thule and Case Logic are serving the same end consumer groups, active people that need an accessory to bring their equipment with them safely, easily and in style. A large percentage of Case Logic’s products are offered around or inside the car, where Thule has its strong base.” said Anders Pettersson, president/CEO of Thule.
“We are very excited to join the Thule family and look forward to gaining access into new markets and growing our existing business. We are convinced that our business partners and employees will benefit from the companies’ mutual commitment to making high quality products for active consumers,” added Tom Sandler, Case Logic’s CEO.
No immediate details were released regarding how the businesses will be integrated and whether any jobs will be eliminated. Case Logic has about 250 employees.