Business support services group DCC has reached a deal to buy French company Comtrade for €11.4m.
Comtrade distributes consumer electronic and audio visual products, such as iPods and MP3 docking stations and speakers, to the retail sector in France. Based in Paris, it has 65 employees.
It made an operating profit of €3m for 2009 on revenues of €65.2m.
Under the terms of the deal, DCC will buy 74% of Comtrade's share capital. The remaining shares will be bought depending on Comtrade's trading results for the next three years.
'There is an excellent strategic fit between Comtrade and DCC SerCom's existing retail distribution business in France, Banque Magnetique,' commented DCC's chief executive Tommy Breen.
DCC shares ended down 0.2% at €19.18 in Dublin.
