Garmin Completes Acquisition of Spanish Distributor

Dr. Min Kao, chairman and CEO of Garmin Ltd., said “The completion of our acquisition of Electrónica Trepat is a further step in our ongoing strategy to strengthen Garmin’s presence in key European markets through vertical integration.”

Fernando Trepat, president of Electrónica Trepat said "We look forward to achieving further growth of Garmin’s sales in Spain and to realizing the benefits of full integration into the Garmin team."

Financial terms of the proposed transaction were not released. 

Earlier in 2007 Garmin completed the acquisition of its distributors in France and Germany and on November 27 Garmin completed the acquisition of its distributor in Italy. On August 23, Garmin announced the signing of a letter of intent to acquire its Danish distributor. This acquisition is expected to be completed in January 2008.