The Dometic Group has announced that they have “entered into an agreement to acquire Front Runner Vehicle Outfitters”.
South African caravanners, campers, and anyone involved in the outdoor industry and lifestyle should be well aware of these two global companies.
Dometic provides products and solutions for use in, among others, recreational vehicles and a variety of outdoor activities, operating from 22 manufacturing and assembly sites in 11 countries with sales in approximately 100 countries.
Front Runner is a proudly South African company that “according to legend was conceived around a campfire… by a handful of friends from South Africa with backgrounds in engineering, design, manufacturing and off-road racing”.
Juan Vargues, President and CEO of Dometic (headquartered in Stockholm, Sweden), said in a press release published on Thursday, 20 May: “I am pleased to welcome Front Runner Vehicle Outfitters and its employees to Dometic.
“Dometic has identified the vehicle based outdoor market as a strong opportunity for growth. Front Runner Vehicle Outfitters, with its offering of high-quality outdoor products, is a perfect fit to Dometic’s existing offering for this market.
“With this acquisition we are strengthening our offering and distribution network for the outdoor market. Our strategy for profitable expansion in Mobile Living is built on a combination of organic and acquisitive growth. This is our fourth announced acquisition this year and our pipeline of potential future acquisitions remains strong.”
The statement continues that the acquisition is “fully financed via cash on hand and is expected to be accretive to Dometic’s EPS from start. The transaction price is not material in relation to Dometic’s market capitalization and is not disclosed. Closing is expected to take place during the third quarter of 2021.”
View the Dometic Press release here
SA4x4 has reached out to Front Runner SA for an official confirmation of the acquisition, their response was as follows:
“Thanks very much for reaching out and requesting clarification prior to publishing.
We also believe that this is important news for the industry and are really excited about the acquisition and look forward to strengthening the product offering and distribution network.
Thanks again for your ongoing support!”
