Avnet acquires Betronik GmbH

Avnet, Inc. announced today that it has entered into an agreement to acquire the Berlin, Germany-based passive components distributor Betronik GmbH. The acquisition is subject to the final approval by the German anti-trust authority (Bundeskartellamt). Following anti-trust approval, Betronik and its French subsidiary DEL S.A. will be combined with the Avnet Time organization in Germany respectively France. The newly formed business will operate within Avnet Electronics Marketing EMEA under the Avnet Time brand. Betronik reported calendar year 2006 revenues of approximately US$ 40 Million. As a result of the merger, Ingeborg and Horst Mergener, managing directors and founders of Betronik, will lead the sales organizations in Germany and Switzerland reporting directly to Michael Danylow, president of Avnet Time. With roots dating back to the 1970's, Betronik GmbH was founded in 1986 in Berlin by Horst Mergener and his wife, Ingeborg. Over the last 20 years, the company evolved to a leading independent distribution organization in the German market for passive components. Betronik employs ~80 people (including its logistics centre in Berlin) and is present with 7 sales offices across Germany and one in France. Most importantly, Betronik maintains an excellent reputation with customers of all sizes and structures. Patrick Zammit, President of Avnet Electronics Marketing EMEA said: "The acquisition of Betronik is - like the Flint acquisition three months ago - another great example of Avnet's commitment to the European IP&E market. Both Betronik's and Avnet Time's customers will gain access to one of the industry's best passive components portfolios as well as a broader spectrum of value-added services. We have very exciting plans for Avnet Time across Europe and are confident that our suppliers and customers will embrace the opportunities that evolve from this expansion. Our intent is to fully merge best people and best practices into Avnet Time's organization." Betronik's Managing Director and Founder Horst Mergener commented: "Over the last 20 years, we have built an excellent specialist team on passive components and were able to gain the respect of many customers for our high service quality. I believe that combining forces with Avnet Time now provides the best options for customers, suppliers and employees. In leading the new German sales organisation I want to ensure that Betronik's entrepreneurial spirit continues to prevail, as part of Avnet Time. I am looking forward to be an integral part of Avnet Time's future strategy." Michael Danylow, acting President of Avnet Time, said: "Germany is by far the biggest market place in Europe for IP&E products. Together with Betronik, we can grow to become a leading force in this critical region." The newly expanded Avnet Time will work to ensure the strengths that have made Betronik a preferred choice in the passive components market, will also drive the new organization and that, customers, suppliers and employees will experience a smooth transition with new and exciting opportunities.