Madrid-based Adveo will spin off its office electronic supply division in agreement with UK distributor
Westcoast will partner with Spanish distributor Adveo on a joint venture creating a new consumer electronics division that could be worth an estimated top line of €300 million (£233 million).
The agreement, which was announced today, will see Adveo, which is based in Madrid, spin off its electronic office supply division. This will see its revenues fall by around a third, but the Spanish firm claimed it would also help cut debts by around €80 million.
The agreement includes Adveo’s Adimpo brand, a centre in Lyon (France), as well as the related stock with these channels and products.
The JV was announced by Adveo, who said it had “reached an agreement for international collaboration in the area of EOS that will allow both companies to derive mutual benefit in that market through the massification of purchases and greater logistics efficiency.”
It is the latest move from Theale-based Westcoast to expand its portfolio and move in to mainland Europe. Last year, it was named as one of just three distributor’s to get rights to the iPhone (alongside Tech Data Mobile and Ingram Micro).
In 2014 it agreed a deal to acquire Dutch player Supplies Service Partner, and last year it partnered with German firm ALSO to create what it claimed is Europe’s largest Microsoft Cloud Solution Provider.
Mobile News contacted Westcoast for comment and is awaiting a response.