Lear finalises automotive seating acquisition
02/05/2017
The value of the transaction is €286 million.
Grupo Antolin’s seating business has annual sales of approximately €300 million, according to Lear. It has operations in five countries in Europe and North Africa, and supplies a range of automakers, including Daimler, Peugeot, Citroen, Renault Nissan and Volkswagen.
"The Grupo Antolin seating business is an excellent fit for Lear and is consistent with our strategy to invest in our core business, accelerate our growth and deliver superior value to shareholders," said Matt Simoncini, president and CEO of Lear. "This business has an excellent reputation for quality and customer satisfaction as well as a strong market position in Europe with leading customers."
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