Dometic entered into an agreement to acquire Cadac International – a provider of barbecues and accessories to the vehicle-based outdoor market.
Net sales of Cadac in 2020 were approximately €17 million, or approximately $20 million.
Cadac’s products are sold primarily across Europe through a network of more than 600 dealers, as well as the company’s own business-to-consumer eChannels.
Dometic said it has identified the vehicle-based outdoor market as a strong growth opportunity as more and more people spend time outdoors using a vehicle or boat as the base.
“I am pleased to welcome Cadac and its employees to Dometic,” said Juan Vargues, president and CEO of Dometic. “With this acquisition we are strengthening our offering and distribution network for the growing outdoor lifestyle market. Our strategy for profitable expansion in mobile living is built on a combination of organic and acquisitive growth. This is our seventh announced acquisition this year and our pipeline of potential future acquisitions remains strong.”
The acquisition – at an undisclosed price – is fully financed via cash on hand, Dometic said.