Distributor CHS Electronics will spend DM587 million to acquire Vobis Microcomputer, Maxdata Computer and Peacock, the computer divisions of German retail giant Metro AG.
US wholesalers see European markets as their next opportunity for global growth and Metro was believed to be negotiating with CHS and rival distributor Ingram Micro. Reports from Germany suggest that Ingram wanted only the choice cuts of Metro's computer division.
The deal was announced by Metro only days after Tech Data completed the acquisition of German based Computer 2000, creating a $12 billion global distribution giant.
Based in Miami, CHS has expanded rapidly with a highly aggressive buying strategy. It has completed more than three dozen acquisitions to date, and its 1997 acquisitions of Karma International and Santech Micro Group catapulted the company into a leading position. In Europe, it became the number one distributor last month with the $87.7 million take over of Metrologie.
There is no comment yet from CHS in the US, but UK marketing director Peter Rigby said: "We have an acquisitions team looking at companies around the world. This is very much in line with our strategy for growth."
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