January 17 (SeeNews) - Croatian distributor of car parts and accessories CIAK Grupa [ZSE:CIAK] said on Monday it has acquired the local unit of German tools and service equipment distributor Stahlgruber for an undisclosed sum.
By this acquisition CIAK Grupa significantly improves its own business segment of tools and equipment, providing its clients in Croatia and in the region with daily access to premium world brands of tools and service equipment, CIAK said in a filing to the Zagreb bourse.
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Thanks to the acquisition CIAK will make an additional 150,000 products available within 24 hours in Croatia and in the region through a network of more than 150 offices and 320 delivery vehicles, the company said.
The main line of business of CIAK is distribution of car parts, car batteries and motor oils, waste management and recycling, and wholesale.
CIAK's shares last traded on the Zagreb bourse on December 27, when they closed at 50 kuna ($7.6/6.6 euro), up 23.76% compared to the previous closing price.
(1 euro = 7.526 kuna)