As of: February 2, 2024, 11:04 a.m
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View into a warehouse of the Würth trading group in Künzelsau.
© Marijan Murat/dpa
The Würth trading group is expanding its electrical wholesale activities in Poland.
The group is taking over 97.31 percent of the shares in Tim SA, which operates the largest Internet platform in the electrical wholesale sector in the neighboring country and generates over 70 percent of its sales exclusively through online channels, as the Künzelsau-based family business announced on Thursday.
Künzelsau - The acquisition also provides a powerful logistics platform.
The purchase price was not published.
The Polish medium-sized company's most recent turnover was 308 million euros.
It has a total of 680 employees.
According to the company, the Würth Group is one of the leading electrical wholesalers in Europe with this business area.
In 2023, the division achieved sales of 3.8 billion euros and contributed around 18.5 percent of the Würth Group's total sales.
The company, known for assembly and fastening materials, broke the 20 billion euro mark in sales in 2023 with 20.4 billion euros, which it had narrowly missed in the previous year.
In 2022, revenues had grown by around 17 percent.
Last year, sales growth was significantly more restrained at 2.4 percent.
dpa