ALSO Expands in Croatia by Acquiring Distribution Business of RECRO
Thursday, December 20, 2018 12:15 PM
EMMEN, SWITZERLAND / ACCESSWIRE / December 20, 2018 / ALSO has acquired RECRO, one of the largest IT distributors in Croatia. The acquisition will allow ALSO to further strengthen its market position in the eastern European and Adriatic regions. Zagreb-based RECRO was founded in 1992 and markets IT products and solutions from high-profile manufacturers such as HP Inc. and Microsoft. The company additionally provides IT services. Completion of the transaction is expected in early January 2019.
"The acquisition of the distribution business of RECRO is another milestone in further strengthening and expanding our presence in the eastern European and Adriatic regions," says Gustavo Möller-Hergt, CEO of ALSO Holding AG (SIX: ALSN). "RECRO has a special focus on excellent professional support for its clients, which is something we also value greatly in light of the growing challenges associated with the implementation of complex IT solutions."
Through the acquisition, ALSO is strengthening its presence in a market that is expanding rapidly and is seeing tremendous investment activity. RECRO is firmly established in the market and attaches tremendous importance to high-quality staff training and professional IT support.
Founded in 1992, the distributor generated sales of 39 million euros last year. RECRO provides an extensive range of IT services that goes beyond its product portfolio, including professional bid and tender support, technical support for the selection and configuration of complex IT systems and professional support for the migration of cloud services. In 2018, RECRO won the Microsoft Croatia Partner of the Year Award for outstanding solutions in the development of the partner channel for Microsoft cloud technologies. As a result, the distributor provides a range of products and solutions that goes well beyond traditional distribution and covers the increasingly important field of services.
By acquiring, ALSO is pursuing its aim of consolidating or gaining a leading market position in those countries in which the company is active throughout Europe. Within the scope of the acquisition, ALSO's focus is on bringing its consumptional business expertise to the table. The company defines consumptional business as consumption-oriented IT services that it provides through its ALSO Cloud Marketplace, among other channels.
Direct link to the media release: https://www.also.com/goto/20181220en/
Contact person ALSO Holding AG:
Ketchum Pleon GmbH
Phone: +49 211 9541 2160
E-Mail: [email protected]
ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) brings providers and buyers of the ICT industry together. The company offers services at all levels of the ICT value chain from a single source. In the European B2B marketplace, ALSO bundles logistics services, financial services, supply services, solution services, digital services, and IT services together into individual service packages. ALSO's portfolio contains more than 250 000 articles from some 525 vendors. The Group has 4 058 employees throughout Europe. In fiscal year 2017 (closing on December 31), the company generated net sales of 8.9 billion euros. The majority shareholder of ALSO Holding AG is the Droege Group, Düsseldorf, Germany.
Further information is available at http://www.also.com
Droege Group (founded in 1988) is an independent advisory and investment company under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity business model. The group carries out direct investments with its own equity in corporate spin-offs and medium-sized companies in "special situations". With the guiding principle "execution - following the rules of art", the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on current megatrends (knowledge, connectivity, prevention, demography, specialization, future work, shopping 4.0). Enthusiasm for quality, innovation and speed determines the company's actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries. More information: https://www.droege-group.com
This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.
SOURCE: ALSO Holding AG