ASSA ABLOY has signed an agreement to acquire MR Group’s hardware division, a supplier of aluminum profile hardware and locks in Portugal.

“I am very pleased to welcome the MR Group hardware division into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, president and CEO of ASSA ABLOY.

“We are committed to growing our mechanical core business and the acquisition of the MR Group hardware division will help us drive that through expanding our product portfolio and improving our regional footprint,” says Neil Vann, executive vice president of ASSA ABLOY and Head of the EMEIA Division.

MR Group’s hardware division has about 380 employees. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2021.