Assa Abloy Buys Canada's Wesko Locks
By Dominic Chopping
STOCKHOLM--Assa Abloy acquired Wesko Locks, a Canadian manufacturer and supplier of electronic and specialty locks, it said Tuesday.
"This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business," said Nico Delvaux, Chief Executive of the Swedish lock maker.
Wesko Locks was founded in 1990 and has around 70 employees. The main office and factory are located in Mississauga, near Toronto and it had sales of around $22 million Canadian dollars ($16.1 million) in 2023.
Assa Abloy said the acquisition will be accretive to earnings per share from the start.
Financial terms weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
June 25, 2024 03:14 ET (07:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks