Velcro acquires Brazilian distributor, opens new office in Sao Paulo in bid to expand its presence in country; acquisition will increase South American manufacturers' access to Velcro brand solutions

MANCHESTER, New Hampshire , February 6, 2014 (press release) – Velcro Industries, 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 Industries’ leading solutions and delivering service excellence to customers around the world.

Velcro Industries 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 Industries,” 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 Industries. “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 Industries is privately held and the terms of the acquisition are not being disclosed.

About Velcro Industries

Velcro Industries together comprise a technology-driven, global organization providing fastening solutions that solve problems in simple, elegant and surprising ways for businesses and consumers around the world. With more than 50 years of experience, Velcro Industries is proud of their heritage in innovation. Velcro Industries B.V. owns over 400 active patents and numerous trademarks, including the VELCRO® mark which is registered throughout the world. Velcro Industries offer global resources for world-class solutions, with manufacturing locations in Spain, the United States, Canada, Mexico, and China and sales offices around the world. “Like” VELCRO® Brand on Facebook: http://www.facebook.com/velcrobrand or visit www.velcro.com for more information.

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