Press release - 30 June 2011 00:00

The deal is closed – Thule Group acquires Canadian Chariot Carriers Inc.

As communicated first time the 31^st May the Thule Group is pleased to announce the acquisition of Chariot Carriers Inc., the world's leading designer and developer of multi-functional child carriers. The deal has today been closed after the final clearance from the European competition authorities.

The deal, which was first presented on 31 May, means that the Thule Group acquires all the assets of Chariot Carriers Inc. of the two founders, the brothers Dan and Chris Britton, and Pierre Doyon, company CEO. Chariot has a turnover of CAD 25 million (equals SEK 160 million and €18 million). The parties have agreed not to disclose the purchase price.

- “We are pleased to be able to close the deal successfully after clearance from the European competition authorities. We can now begin the real work to build on the success story the company has been during its first twenty years and take the business to the next level ", said Magnus Welander, CEO of the Thule Group. “

Organizationally Chariot will form a new business unit within the Thule Group named Child Transport Systems. The business unit will be led by Tom Andersen, a long-term employee within the Thule Group's North American operations. The unit will continue to be based in Calgary, the province of Alberta, Canada.

The acquisition adds a strong brand and new product line to Thule Groups’s existing portfolio of products for smart and safe transportation and is a natural step in the Thule Group's increased focus on consumer products for an active lifestyle.

Chariot bicycle trailers and multi-functional child carriers are designed for parents committed to an active lifestyle by bringing their children conveniently, safely and in style in their daily life or in the family’s adventures. Through patented technologies, a Chariot carrier can easily be adapted to five different applications cycling, jogging, strolling, hiking and skiing.

For more information, please contact :
Magnus Welander, CEO and President, Thule Group
Telephone: +46 (0)703 325 504, e-mail: magnus.welander@thule.com

Fredrik Erlandsson, Senior Vice President Communication, Thule Group
Telephone: +46 (0)703 090 021, e-mail: fredrik.erlandsson@thule.com

Topics

Lifestyle, Fashion, Leisure

Contacts

Karl Wiedemann

Press contact Marketing Channel Manager karl.wiedemann@thule.com +1203-881-9600

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LE CANADA FRANCAIS: Le Groupe Thule fait l’acquisition de l’entreprise canadienne à succès Chariot Carriers Inc.

Le Groupe Thule est fier d’annoncer l’acquisition de la société Chariot Carriers Inc., l’un des chefs de file mondiaux dans la mise au point et la conception de remorques de vélo et de produits de transport d’enfants multifonctions.

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The Thule Group is pleased to announce the acquisition of Chariot Carriers Inc., one of the world's leading designers and developers of bicycle trailers and multi-functional child carriers. Thule Group has signed an agreement with Chariot Carriers Inc. which will consequently add a strong brand and new product line to Thule’s existing portfolio of products for smart and safe transportation.