Assa Abloy has acquired Olimpia Hardware, a glass hardware and accessories brand in Latin America and the Caribbean.

“I am very pleased to welcome Olimpia into the Assa Abloy Group. This constitutes an important next step in our strategy to grow market leadership in emerging markets,” says Nico Delvaux, president and CEO.

“The addition of Olimpia complements our business in Latin America, further supporting the growing trend of openings utilizing glass and aluminum products,” adds Lucas Boselli, executive vice president of Assa Abloy and head of the Americas division.

Olimpia was established in 1999 and serves Latin America and the Caribbean. Assa Abloy will continue to sell Olimpia branded products across the region.

Sales for 2019 amounted to about $13 million with a good EBIT margin, according to the company. The acquisition will be accretive to earnings per share from start.