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Darfon Expands with Acquisition of German E-Bike Distributor Grofa
2024-06-27
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Darfon Electronics Corp. (TWSE:8163) has acquired an 80% stake in GROFA GmbH from Bike Holding GmbH for €28 million. The deal, finalized on June 21, 2024, involves a cash payment of €28 million from Darfon's own funds. This strategic acquisition, approved by Darfon's Board of Directors, marks a significant expansion of Darfon's presence in the European market.
Cheng Huei-Fang from Cheng & Company provided advisory services to Darfon Electronics for this transaction. By acquiring a majority stake in Grofa Action Sports GmbH, Darfon strengthens its footprint in Germany. Grofa holds exclusive distribution rights for Darfon's e-bike brand, BESV, in Germany, Austria, and Belgium, further solidifying Darfon's market position in the region.
With this acquisition, Darfon aims to leverage Grofa's established distribution network to boost sales and market penetration for its innovative e-bike products. This move underscores Darfon's commitment to expanding its global reach and enhancing its competitive edge in the e-mobility sector.
