ARB Corporation (ASX:ARB) to acquire Truckman Group for $39.3 million

Company News

by Melissa Darmawan

Motor vehicle accessories company ARB Corporation (ASX:ARB) is set to acquire a leading auto styling company in the UK called the Truckman Group for $39.3 million.

Truckman manufactures and distributes utility accessories and will provide ARB with exposure into Europe’s largest utility vehicle market.

The purchase includes the business operations of Truckman and a property from which the business operates and will be funded from ARB’s existing cash resources.

Shares in ARB Corporation (ASX:ARB) are trading 1.63 per cent higher at $34.23.