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Top 20 Stories of 2022: #11

Top 20 Stories of 2022: #11

EVERY WEEKDAY FOR THE REST OF THE YEAR, TED MAGAZINE IS COUNTING DOWN THE TOP 20 STORIES OF 2022. BELOW, THE #11 MOST-VIEWED STORY OF THE YEAR, ORIGINALLY PUBLISHED ON JANUARY 6, 2022.

 


 

Sonepar Acquires Two Electrical Wholesalers

The Sonepar Group announced two recent agreements for acquisitions.

It has entered into an agreement to acquire ELCO elektro, s.r.o in the Czech Republic. Founded in 1993 and located in Mladá Boleslav and Kralupy nad Vltavou, this electrical installation material wholesaler has an annual turnover of around EUR 7 million.

Sonepar’s presence in the Czech Republic dates back to 1992, when it opened its first branch, its headquarters, and a central warehouse in Hradec Králové.

Today, Sonepar operates a sales network of 29 branches located in 25 cities in the Czech Republic. This network has been built through the opening of new branches and acquisitions. With an expected turnover 2021 close to EUR 100 million, Sonepar is one of the leading electrical installation material wholesalers in the Czech Republic.

The acquisition of ELCO elektro will significantly strengthen Sonepar’s business and will support its continued successful development in the Czech Republic.

Sonepar also announced that it has entered into an agreement to acquire Weniger GmbH Elektrogroßghandel in Germany.

Weniger is a medium-sized electrical wholesaler based in the East of Germany, with 70 associates serving customers in five branches in Cunewalde, Zittau, Kamenz, Spremberg, and Meissen. With an expected 2021 turnover of approximately EUR 20 million, Weniger has experienced more than 30 years of successful business in this area.

This acquisition will strengthen Sonepar’s local presence in the Brandenburg area as well as Eastern and middle Saxony. With Sonepar’s state-of-the-art logistics, advanced product assortments and additional services combined with Weniger’s dedicated sales team, Sonepar believes this acquisition will deliver great value to its customers.

This transaction became effective on December 31st, 2021.

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