Distributor CHS Electronics has sold its 200,000-square foot warehouse in the Netherlands but has refused to name the buyer.
The sale was made after Germany?s Federal Cartel Office approved CHS? acquisition of Frank & Walter Computer (F&W), Germany?s fourth biggest computer wholesaler.
The Dutch facility in Helmond was part of Merisel Europe, which CHS bought last year. CHS said it has sold the warehouse?s leasehold rights to the mystery buyer, whom sources believe is a competitor, because the buyer has agreed to pay to run the facility. CHS will rent a 100,000-square foot site in Kassel, Germany, to service the area covered by the warehouse it has sold.
Miami-based CHS has also revealed more details of the F&W takeover, which has reinforced its challenge to wholesale giants Computer 2000 and Ingram Micro. It has paid the equivalent of $37 million for F&W, whose founder Carsten Frank has become CHS? European vice president. He received 2.2 million CHS shares in the deal and is now CHS? second biggest shareholder, holding 15 per cent of the company?s stock.
CHS chairman Claudio Osorio said the deal opens the German market to CHS and makes it the second biggest distributor in Europe, behind Computer 2000. "It gives us an entree to resellers with whom we have not been dealing," he said.
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