Dyaco International Inc (岱宇國際), Taiwan’s biggest fitness equipment manufacturer, yesterday said that it has agreed to acquire Canadian distributor Maurice Pincoffs Canada for about US$7.5 million (NT$224 million).
Dyaco said its board of directors has approved the plan and that it expects the acquisition to be completed by the end of the second quarter of the year.
According to Dyaco, Maurice Pincoffs Canada is the third-largest fitness equipment supplier in Canada and generates about US$20 million in sales per year. The Canadian firm has been operating for more than 20 years.
The Canadian firm has already partnered with Dyaco in the latter’s efforts to penetrate the North American market, the Taiwanese company said.
Dyaco said the acquisition is expected to provide it with an opportunity to grasp a bigger share of the Canadian market and keep Maurice Pincoffs Canada as the third-largest supplier of fitness equipment for household use in North America.
Dyaco also owns the fitness equipment brand Spirit and has three factories in Changhua County.
The Taiwanese firm’s plan to acquire a Chinese fitness equipment producer were also approved by its board, but Dayco did not disclose further details about the acquisition.
Dyaco has been listed on the emerging stock market since October 2011.
According to local securities listing rules, a company must list its shares on the emerging market for no less than six months before deciding to list on the main board or on the over-the-counter market.