Inspecs Group has acquired BoDe, a distributor of optical and sunglasses frames principally to the German market.
Inspecs is currently the largest supplier to BoDe and will pay an upfront cash consideration of approximately €1.76m from existing cash resources and deferred cash consideration based on financial performance over the next three financial years.
BoDe is expected to generate revenues of approximately €3.75m in 2021 and the acquisition is expected to be earnings enhancing in 2022.