Sri Lanka’s GRI acquires Klumpenaar Industriebanden BV in Netherlands.
The Morning: Expanding its global footprint and growth trajectory even further, tyre manufacturer GRI announced that it had acquired Klumpenaar Industriebanden BV in the Netherlands.
Founded in 2010, Klumpenaar Industriebanden BV has been actively engaged in the material handling tyre aftermarket service, and distribution business. The company has grown its business rapidly since inception, and built a sound reputation for outstanding customer service.
Commenting on the acquisition, GRI Managing Director Prabhash Subasinghe said: “We are happy to welcome Klumpenaar to the global network of GRI. The European market has always held exciting growth prospects for GRI, and the Netherlands has been a focal point.
“We have been associated with Klumpenaar since the company became a full importer of GRI tyres in 2018, and we see immense potential to grow our business even further in the Netherlands. I thank the management team of Klumpenaar, and all stakeholders involved, for their tireless efforts in building this company, supporting GRI and making this acquisition a success.”
Since its establishment in 2010, Klumpenaar Industriebanden BV has already set up a fully-fledged warehouse and office complex for operation. The company comes with a talent pool of experienced professionals, some of whom have over 30 years of experience in the specialty tire market and have gained the trust and respect of customers across the Dutch market.
GRI CEO Dr. Mahesha Ranasoma said: “GRI has been enjoying a vibrant presence in the Netherlands through its high-grade material handling tyre range. Klumpenaar has always prided itself on providing customers with a great product and a high level of service. We are happy to be inheriting this legacy from them as they pass the baton over to GRI to continue with this successful growth story.
“Klumpenaar has the necessary strength and experience to expand the GRI FIT service business across the Dutch market, and we believe that GRI can make a significant impact in providing exceptional service to our customers. We eagerly look forward to engaging even closer with our customers in the Netherlands and introducing exciting value propositions in the future,” said GRI Director – Sales and Marketing Asela Gunawardena.
This is the fifth such global acquisition made by GRI in the last five years. Prior to this, GRI acquired entities in the US, Australia, Spain, and the Baltics, to capture growth in these respective markets.
Adding further to this, Klumpenaar Founder Herman Klumpenaar, said: “We are pleased and proud to be part of GRI’s global network. I founded Klumpenaar Industriebanden BV to provide superior service and high-quality tires to forklift dealers, operators, forklift service companies and end-users in the Netherlands. Our company is a flat organisation with dedicated people, which ensures that we respond quickly and accurately to customers. The right service and flexibility are of paramount importance, and I am confident that under GRI’s leadership, we will scale even greater heights.”
OSL take:
GRI’s expansion into the international market is indicative of the strength, growth and the business conducive environment in Sri Lanka that has enabled businesses to thrive. The country’s private sector has shown great resilience even amidst challenging economic conditions in Sri Lanka by recording growth and profits amidst challenging conditions. Sri Lanka is also working towards becoming an emerging business destination in the South Asian region supported by the country’s geographical positioning in the Indian Ocean and the many trade agreements as well as concessions enjoyed by the country. The government of Sri Lanka is also focused on further improving the ease of doing business environment in the country while authorities have also prepared a set of incentive packages to further woo foreign investors to the country. Given the resilient economy and the expanding economic activities, foreign businesses/investors could explore the growing opportunities in Sri Lanka. They could also look at forming partnerships or joint ventures with local businesses with the aim of further expansion.
| Article Code : | VBS/AT/28122022/AT_6 |