Monday, September 24, 2007
Avnet to Acquire German Distributor Betronik
Phoenix, Arizona-based Avnet Inc., a marketer and distributor of electronics components, announced Monday that it has agreed to acquire Betronik GmbH, a Berlin-based passive components distributor. Terms of the deal, which is subject to approval from the German anti-trust authority, were not disclosed. Pending approval, Avnet said it will combine Betronik and its French subsidiary, DEL S.A., with the Avnet Time organization. The Phoenix-based company explained that its newly formed business will operate with the Avnet Time brand and within Avnet Electronics Marketing's Europe, the Middle East and Africa arm. Horst and Ingeborg Mergener, the husband-and-wife team who founded the company in 1986, will lead the sales organizations in Germany and report directly to Michael Danylow, Avnet Time's president. Betronik GmbH reported some $40 millioin in gross revenues for the 2006 calendar year, Avnet said.