Garmin buys its distributor in Chile - Trade Only Today

Garmin buys its distributor in Chile

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Garmin Ltd. acquired Centro GPS, the distributor of Garmin's automotive, outdoor recreation, fitness and marine products in Chile.

Centro GPS will be renamed Garmin Chile and will continue operations at its current facilities in Santiago, which employ about 25 associates.

Financial terms of the transaction were not released.

“We are happy to welcome the Chilean team into the Garmin family,” chairman and CEO Min Kao said in a statement. “Garmin is investing heavily in the emerging South American market and this is a key acquisition that will allow us to maintain a leadership role in this important region.”

Garmin opened a Brazilian office in 2006, and the acquisition of Centro GPS represents its continued commitment to the South American market.

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