Schaffhausen, Switzerland: Garmin Ltd. acquired its Chilean distributor Centro GPS. It was the distributor of Garmin’s automotive, outdoor recreation, fitness and marine products. According to Garmin’s press statement, Centro GPS will be renamed Garmin Chile and will continue operations at its current facilities located in Santiago, which employs approximately 25 associates.
Dr. Min Kao, Chairman and CEO of Garmin, said, “Garmin is investing heavily in the emerging South American market, and this is a key acquisition that will allow us to maintain a leadership role in this important region.”
The acquisition of Centro GPS is preceded by Garmin Ltd.’s opening of a Brazilian office in 2006, and represents its continued commitment to the emerging South American market. Financial terms of the transaction were not released.
Source: Garmin
