News | February 3, 2020

Bergman & Beving Acquires VIP Safety And Masters Of Gloves

(GLOBE NEWSWIRE) - Workplace Safety, a division within Bergman & Beving, has today entered into an agreement to acquire all shares in VIP Safety B.V. and 51 per cent of the shares of Masters of Gloves B.V.

VIP Safety sells personal protective equipment (PPE) and working clothes in the Benelux area, and has a long and successful background of selling Bergman & Beving’s product brands. VIP Safety has 12 employees and an annual turnover of approximately 40 MSEK.

Masters of Gloves is a brand within protective gloves for police, armed forces, emergency services and other customer categories with similar needs.

"The acquisition of VIP Safety gives us a strong presence on the Benelux market, which is a prioritised expansion market for our brands within PPE, says Fredrik Valentin, head of Workplace Safety Division. ”By acquiring the majority of Masters of Gloves, we obtain a complementary product offering within gloves, and thus an even better position to reach interesting customer groups.”

Closing is taking effect immediately and the acquisition is expected to have a marginal positive impact on Bergman & Beving's earnings per share during the current fiscal year.

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Source: Bergman & Beving AB