Assa Abloy Agrees to Buy Door-and-Window Hardware Manufacturer
By Dominic Chopping
STOCKHOLM--Swedish lock maker Assa Abloy AB said Monday it has
agreed to buy Arran Isle, a designer, manufacturer and distributor
of door-and-window hardware in the U.K. and Ireland.
Arran Isle was established in 1971 and has around 560 employees.
The company has manufacturing and distribution sites in the U.K.,
Ireland, Europe and China, Assa Abloy said.
Sales for 2020 amounted to about 100 million pounds ($136.7
million), and the acquisition will be accretive to earnings per
share from the start, Assa Abloy said.
"This acquisition delivers on our strategy to add complementary
products and solutions to our core business," Chief Executive Nico
The acquisition is subject to regulatory approval and is
expected to close during the fourth quarter of 2021, the company
Financial details weren't disclosed.
Write to Dominic Chopping at email@example.com
(END) Dow Jones Newswires
September 27, 2021 02:43 ET (06:43 GMT)
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