CHARLOTTE, NC, January 20, 2022 (GLOBE NEWSWIRE) – Today Snap One (NASDAQ: SNPO) announced the acquisition of Canadian distribution partner Staub Electronics to improve its partnership experience across Canada and expand the company’s northern region. American local branch. The acquisition of Staub reflects Snap One’s continued fulfillment of its active acquisition strategy, which further strengthens the company as an experienced strategic asset buyer.
According to Snap One CEO John Heyman, the acquisition brings together two companies that have been working together for more than 10 years and share a major commitment to empowering professional integrators by providing exceptional service and a broad product portfolio.
“This acquisition will strengthen our capabilities across Canada by introducing a wider range of products, providing faster lead times, allowing you to pick up orders on the same day and providing more product choices than ever before for our Canadian partners,” he said. John Heyman. “By making Staub part of Snap One, we can bring the experience of a local Snap One branch to Canada. Now that the deal is complete, we are excited to continue to pursue our disciplined merger and acquisition strategy as part of our broader growth initiatives. ”
Staub President Scott Trotter, Vice President Brian Sack and their entire management team will continue to run the business, and founder Dave Mason will retire. Staub will continue to support all of its current lines of business, including the automotive department.
According to Staub Electronics President Scott Trotter, “We are excited to officially become part of the Snap One family. For years, our two companies have worked together to meet the needs of professional integrators in Canada, and now we plan to take our clients ’experience to a whole new level.”
This acquisition has led Snap One to local affiliates in a total of 33 locations, further expanding its extensive network, allowing partners in more regions to purchase products on demand, training and personalized customer service. Snap One’s multi-channel strategy, which complements its leading e-commerce capabilities with best-in-class local affiliates, began in 2018 with the acquisition of Allnet Distributing, and over the past three years the company has invested heavily in expanding its local affiliates. . Many local affiliates provide integrators with a wide range of performance options, including round-the-clock call numbers, on-the-job delivery, and self-purchase.
Founded in 1981, Staub is one of Canada’s leading distributors of technology solutions focused on residential and commercial AV integrators and automotive electronics installers. The company prides itself on being a trusted partner in the Canadian market with a commitment to customer service, operational excellence and offering a wide range of solution-oriented products.
About Snap One
Snap One, founded in 2005 in Charlotte, North Carolina, is a manufacturer and exclusive source of audio-video, security, surveillance, networking and remote management for professional integrators. Control4 is Snap One’s main brand for automation and control. Snap One is a leader in professional installation channel and helps integrators build their business by providing a wide range of high quality products that are easily accessible through an intuitive website and supported by award-winning service and support. With an extensive catalog of the most popular brands, Snap One is the best choice for professional installers around the world. With 31 local offices in the US and two in Canada, Snap One combines the benefits of e-commerce with the convenience of self-pickup on the same day. More information about Snap One and its products can be found at www.SnapOne.com.
Forecast statements Disclosure
This press release may include forward-looking statements under the Private Securities Reform Act of 1995 that are subject to risks, uncertainties and other factors, including risks and uncertainties related to the company’s business and the acquisition of Staub Electronics Ltd. All statements, except statements of historical facts, are statements that can be considered predictive, including any statements of expectations or beliefs and any statements of assumptions underlying any of the above. These risks, uncertainties and other factors, as well as the overall risks associated with the company’s business, may result in actual results differing materially from those stated in the forward-looking statements. The reader is warned not to rely on these promising statements. All forward-looking statements are based on information currently available to the company and are fully delineated by this warning statement. To discuss these and other risks and uncertainties, refer to the company’s documents to the Securities and Exchange Commission. Except as required by law, the Company undertakes no obligation to update such forward-looking statements.
Media: Abigail Hanlan, Director of Marketing and Public Relations
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Investors: Tom Colton and Matt Glover
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