Fox has completed the acquisition of its German distributor and service center, Toxoholics GmbH, for $2.3 million, the company told investors on an earnings call Wednesday.
Fox said the acquisition provides it with a "proven understanding of the European market for Fox products, offers the company an accelerated path for improving customer service and customer relations in Europe, and provides opportunities for future expansion of Fox European operations and infrastructure."
Fox didn't expect the deal, completed Oct. 31, to affect its financial results.
"This is an acquisition that's strategic for us," Fox CEO Larry Enterline told investors. "Toxoholics is in a cornerstone market over there. It's a large distributor of primarily Fox, so it makes a lot of sense for us in terms of building infrastructure and staying close to our customers. This move is about better serving our customers. It's not a large financial base acquisition."
"It will help us accelerate things we want to do, "he added. "We hope that it positively impacts sales, but this transaction is more about strategy."
Toxoholics has been Fox's German distributor and service center for bike products since 1999. Fox's powered vehicle products are distributed through a variety of distributors across Europe.
