A Dyaco product which was co-developed with Intel. (Photo/Liu Chu-sung)
Dyaco International, Taiwan's biggest fitness equipment manufacturer, said Monday it has agreed to acquire a Canadian distributor — Maurice Pincoffs Canada — for about US$7.5 million.
Dyaco said its board of directors has approved the plan and that the acquisition is expected to be completed by the end of the second quarter of this year.
According to Dyaco, the Canadian company is the third- largest fitness equipment supplier in Canada, generating about US$20 million in sales per year. It has been in operation for more than 20 years.
The Canadian firm has already served as a strategic partner with Dyaco in its efforts to penetrate the North American market, the Taiwanese company said.
Dyaco said the acquisition is expected to provide it with an opportunity to grasp a bigger share in Canada and help the company maintain its status as the third-largest supplier of fitness equipment for household use in North America.
Dyaco currently owns the fitness equipment brand Spirit. It has three factories in Changhua County.
A plan to acquire a Chinese fitness equipment producer was also approved, but Dayco did not disclose further details about that acquisition plan.
Dyaco has been listed on the local emerging stock market since October 2011. According to local securities listing rules, a company must list its shares on the emerging market for no less than six months before deciding to launch a listing on the main board or on the over-the-counter market.
Dyaco International 岱宇國際