Manfrotto owner buys Lowepro and JOBY
The company the Vitec Group, which owns well-known brand of accessories for photography Manfrotto, has acquired two big names, well known to those who are interested in photographic equipment: JOBY and Lowepro. Earlier these stamps were the property of the Dayman Group.
Note that the company Vitec already has an impressive collection of brands in the designated region, which are sold in bags, tripods, lighting, boxes for cameras, batteries, and other products. For example, it owns the names of Gitzo, Lastolite, Wooden Camera, Colorama, and Litepanels SmallHD.
It is noteworthy that the range of the acquired brands overlaps with an existing range of Vitec. Perhaps the manufacturer is counting through the purchase to reduce competitive pressure and expanding market coverage. In particular, the Lowepro brand, well known in the United States, will enable Vitec to strengthen its position in the country and improve ties with Apple, Amazon and B&H Photo.
The purchase cost Vitec 10.3 million dollars, and taking into account integration costs the total costs associated with the transaction is estimated at 32 million dollars.