StockMarketWire.com - Midwich has entered into a binding agreement to acquire a majority stake in Earpro S.A., a value-added distributor of audio, video and lighting solutions in Spain and Portugal.

The acquisition valued the equity of Earpro at about €11.0m, including a net cash balance of approximately €3.2m. The deal marked Midwich's entry into the Spanish and Portuguese markets, territories the group has identified as important in its international expansion.

"The acquisition is further delivery of the Group's strategy, stated at IPO to grow operations through a combination of organic development and selective acquisitions," said Midwich.






Story provided by StockMarketWire.com