STRAX: STRAX Adds to its Portfolio of Own Brands Through the Acquisition of Richmond & Finch
The business model is a very good match to the unparalleled retail and online distribution reach of the STRAX group.
- The business model is a very good match to the unparalleled retail and online distribution reach of the STRAX group.
- Richmond & Finch is expected to reach sales of approximately MSEK 45 in 2019 and the acquisition, followingthe successful earnout-structure STRAX has used in the past, is effective as of December 1, 2019.
- With STRAX industry knowledge, backend support and broad distribution Richmond & Finch will get the chance to reach its full potential" says Mats Wikstrm, CEO & founder of Richmond & Finch.
- Furthermore, the timing is right, since Richmond & Finch overall product positioning highly complements the current brand offering from STRAX.