Garmin set to buy distributor in South Africa - Trade Only Today

Garmin set to buy distributor in South Africa

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Garmin signed a letter of intent for the proposed acquisition of Garmin Distribution Africa (Pty) Ltd., the distributor of Garmin's automotive, outdoor recreation, fitness and marine products in Southern Africa.

Financial terms of the transaction were not released.

"GDA has been our South African distributor for nearly two decades and this acquisition will only strengthen our ties to our retailers and customers in this region," the company said in a statement.

After the acquisition is completed, the company will be renamed Garmin Southern Africa (Pty) Ltd. and will continue operations at its current headquarters and warehouse near Johannesburg. It employs about 70 associates.

The acquisition is expected to be completed in June.

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