Distributor CHS, which acquired Merisel's European and Latin American arms towards the end of last year, is to buy a Brunswick-based German distributor for $37 million.
Frank & Walter will become part of CHS, with former chief executive Carson Frank taking a 15 per cent share in CHS and becoming its head in Europe.
The German distributor has an existing turnover of $750 million. That means that CHS sales now amount to around $1.5 billion in total, giving it significant market share in the worldwide distribution market. It paid over $150 million for the lucrative Latin American sector of Merisel with the European division bundled into the deal.
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