Inspecs acquires BoDe
The agreement with the German distributor marks the third acquisition for Inspecs in two years
10 December 2021
Inspecs has acquired BoDe Design Vertriebs, a German eyewear distributor, as it continues extending its distribution strategy “around the world.”
Bath-based Inspecs is currently the largest supplier to BoDe, which distributes optical and sunglass frames primarily to the German market, as well as Holland, Austria and Switzerland.
Inspecs will pay an upfront cash consideration of approximately €1.76m (£1.50m) from existing cash resources, it confirmed, and deferred cash consideration based on financial performance over the next three financial years.
Robin Totterman, CEO of Inspecs, welcomed “the long-established” eyewear distributor, commenting: “We have worked alongside Stefan Boop and Matthias Deter for many years and they currently distribute Inspecs products as well as their own licensed brands Comma and Zwo.”
“This acquisition continues our strategy of developing strategic distribution of our products to both chain and independent opticians around the world,” Totterman added. “We look forward to further synergies and working with the dynamic team at BoDe in the future.”
BoDe is expected to generate revenues of approximately €3.75m (£3.21m) in 2021, and the acquisition is expected to be earnings enhancing in 2022. The company distributes five eyewear brands, including Superdry and O’Neill.
The latest acquisition announced by Inspecs follows two made last year, first taking on Norville’s manufacturing operations, before forming an agreement with the German eyewear supplier, Eschenbach Holding.