Acquisition and New Office Extend Services and Solutions for South American Market; New Company Name Will Be Velcro Brasil Importação, Exportação e Comércio de Sistemas de Fixação Ltda.
MANCHESTER, NH – January 29, 2014 – Velcro Companies, with its commitment to creating smart products, services and technologies wherever things can be connected, today announced an expansion of its presence in Brazil. Through an acquisition and the creation of a new office in Sao Paulo, the company is reinforcing its commitment to increasing access to Velcro Companies’ leading solutions and delivering service excellence to customers around the world.
Velcro Companies has opened an office in Sao Paulo, Brazil to support its consumer-oriented product lines including ONE-WRAP® products and a variety of other connecting solutions for home, office and classroom organization, crafting and outdoor/recreational uses. The office – located in the Barueri area of Sao Paulo – will focus on establishing partnerships with retailers across the region to deliver innovative, lifestyle-focused solutions.
The company has also acquired distributor and partner Jore Comèrcio e Representacoes LTDA (Jore) to enable South American manufacturers easier integration of VELCRO® Brand solutions – such as fasteners, closures, ties and straps – into their products. Jore (based in Sapiranga, Brazil) has been distributing VELCRO® Brand products to manufacturers of healthcare, industrial and transportation solutions since 1991 and the combined companies will focus on partnering with new verticals by delivering the complete VELCRO® product portfolio. In addition, customers and partners will benefit from augmented resources such as enhanced supply chain operations, increased R&D efforts and access to a world-class, global service organization.
“Brazil has rapidly emerged on the global playing field as a nation with a deep commitment to advancing innovation and invention – characteristics that align with the mission of Velcro Companies,” said Scott Filion, President, Velcro USA. “We are thrilled to expand our work with local companies and organizations in Brazil through both a new office and an acquisition that builds our network throughout the Americas.”
“A key component of our growth strategy is to expand our reach and footprint into new regions around the world and build upon our global heritage and origins,” said Fraser Cameron, Chief Financial Officer, Velcro Companies. “In addition to Brazil, we will continue to identify opportunities in high-growth areas globally that complement and expand upon our existing capabilities and offerings.”
Velcro Companies is privately held and the terms of the acquisition are not being disclosed.
About Velcro Companies:
Note to editors:
At Velcro Companies, we are proud that VELCRO® brand products have become a part of everyday life, but that ubiquity sometimes produces confusion. The VELCRO® trademark should be used only when referring to genuine VELCRO® brand fasteners. Non-VELCRO® brand products should be identified by their functional terms, such as “hook and loop,” “self-adhesive straps,” and so forth. The VELCRO® mark should always be used as an adjective and never as a noun or a verb. The term “Velcro Companies” should be used when referring to our company and its executives.
The proper use of the VELCRO® trademark assists us in safeguarding the integrity of the VELCRO® brand, and helps to protect consumers from products incorrectly sold as VELCRO® brand products. For further information on the proper use of the VELCRO® trademark, please see the guidelines on our website.
For additional information please contact:
Amy Thompson
FleishmanHillard
Amy.thompson@fleishman.com
617.692.0508
