Cyprus-headquartered ASBISc Enterprises Plc, commonly referred to as Asbis, has announced the acquisition of CPT Praha spol. s r.o., a Czech distributor specialising in premium audio products.
The board of directors of Asbis confirmed that the agreement was signed through its subsidiary, ASBIS CZ spol. s r.o., which acquired 100 per cent of the share capital in CPT Praha.
The company disclosed that the purchase price was set at 600,000 US dollars, covering the value of the purchased inventories.
Asbis explained that the acquisition was fully financed from the own funds of its subsidiary, ASBIS CZ.
CPT Praha, founded in 1991 and headquartered in Prague, is described as a well-established distributor with a strong presence in the Czech and Slovak markets.
The company offers a broad portfolio of internationally recognised brands that include ONKYO, KLIPSCH, JAMO and TEAC.
Asbis stated that the transaction represents a continuation of its wider growth strategy.
“The acquisition of CPT Praha is a natural step in our strategy to strengthen our position in the consumer electronics sector, particularly in the high-demand premium audio category,” the company said.
