Dometic entered an agreement to acquire Twin Eagles, a U.S.-based supplier of freestanding and built-in grills and outdoor kitchen solutions for the residential outdoor market.
Cerritos, California-based Twin Eagles’ products are available at more than 400 dealers across the U.S. and Canada, with annual net sales totaling $34 million.
Dometic identified residential outdoor as an area with strong growth potential.
“I am pleased to welcome Twin Eagles and its employees to the Dometic family,” Dometic President and CEO Juan Vargues said. “Twin Eagles fulfils all prerequisites that Dometic has set for acquired expansion, with proven profitable growth, strong market positions and strong management. The acquisition is part of our strategy of broaden our residential product offering and expand into new vertical end markets. The customer feedback on our recently launched Dometic MoBar has been extremely positive and this acquisition will give us a unique position to expand sales in the fast-growing Residential outdoor market in North America.”
Transaction details were not disclosed.
Twin Eagles was founded in 1999 and has 130 employees, with its own American-based manufacturing facility. The acquisition is expected to close during the first quarter.
