Franklin Electric Executes Strategic Acquisition to Enhance Growth in Latin America
Franklin Electric has signed an agreement to acquire Barnes de Colombia S.A., a manufacturer and distributor of industrial and commercial pumps based in Cota, Cundinamarca, Colombia.
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| Franklin Electric's headquarters in Fort Wayne, Indiana. |
This acquisition aligns with Franklin Electric's long-term growth and diversification goals, providing significant opportunities for expansion in Latin America.
Barnes de Colombia, also operating under the WDM brand in certain countries including the U.S., is headquartered near Bogotá, Colombia. It has two manufacturing facilities and over eight stocking locations in Colombia, as well as assembly facilities in Mexico, Brazil, and Argentina, and local warehouses in Guatemala, Panama, Ecuador, Peru, and Chile.
The acquisition enhances Franklin Electric's product portfolio and market presence in key Latin American regions. Barnes de Colombia's strong market position in Colombia and established operations in Mexico, Argentina, Brazil, and other Latin American countries is expected to help accelerate Franklin’s growth in the region.
In addition, the acquisition supports the company’s strategic goals of diversifying its product line and enhancing supply chain resilience while leveraging Barnes de Colombia's distribution network and customer relationships.
"We are thrilled to welcome Barnes de Colombia to the Franklin Electric family," said Joe Ruzynski, CEO of Franklin Electric. "This acquisition not only strengthens our presence in the high-growth Latin American markets but also enhances our ability to serve our customers with an expanded portfolio of innovative and high-quality products.”
He said Barnes’ approximately 400 team members and manufacturing and foundry capabilities will enhance Franklin’s operating footprint materially.
“We are excited for these new team members and operations to contribute meaningfully to our growth and success,” Ruzynski said. “Together, we will continue to rely on our Key Factors for Success: quality, availability, service, innovation and cost, to deliver outstanding value to our customers."
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