European photographic and broadcast accessory specialist Vitec has acquired its former Australian distributor, Melbourne-based Adeal Pty Ltd.
The acquisition was completed on March 6 in the UK for a total investment of $5 million (£2.8 million). ‘The acquisition is expected to be earnings neutral in 2018 and marginally accretive in 2019,’ the accompanying statement read.
‘The acquisition of Adeal is in line with Vitec’s strategy to expand in APAC and get closer to its customers through owning more of its own distribution channel. In addition to sales growth, margin consolidation and full control of channel management, Vitec’s ownership of Adeal will enable the Group to consolidate its Imaging Solutions brands under one national distributor,’ it continued.
Adeal will become part of Vitec’s Imaging Solutions Division, led by Marco Pezzana. Current Adeal managing director, David Burlew, will remain with the new-look Adeal.
‘This acquisition is a further step in the Group’s strategy to get closer to our customers and will build on our presence in the rapidly expanding APAC market. This is an exciting time for Vitec as we continue to launch innovative, new products for the fast growing “image capture and sharing” market, and I am delighted to welcome the Adeal team to the Group,’ said Vitec CEO, Stephen Bird.
It’s not clear at this stage who will now distribute non-Vitec brands in the Adeal portfolio such as Hoodman and Phottix.