Lenovo closes acquisition of CCE in Brazil

The closing took place January 2, 2013, with Lenovo acquiring 100% of CCE in a transaction consisting of Lenovo stock and cash totaling BRL 300 million (approximately USD 147 million). The acquisition more than doubles Lenovo’s PC market share in Brazil, the world’s third largest PC market. “Brazilian customers will see immediate benefit from this acquisition with products that embody Lenovo’s heritage of innovation, quality and global supply chain efficiency, while building upon CCE’s knowledge of Brazilian consumer needs and strong retail presence,” said Dan Stone, President and General Manager, Lenovo Brazil. “Following our announcement of new manufacturing and distribution capabilities in Itu, Sao Paulo, the addition of CCE’s valuable manufacturing base and local management team demonstrates Lenovo’s powerful “global-local” strategy in action, fostering rapid expansion that combines global reach with meaningful local investments that reflect our long-term commitment to the Brazilian market.”