LONDON and BARRIE – Logistics company Drexel Industries this week announced it will acquire mobile phone accessories and consumer electronics devices company Affinity Electronics of Canada.
The acquisition will combine Affinity’s assets and experience as an established mobile phone solutions company with Drexel’s strength in third party logistics, says the company’s press release. “Drexel’s retailer connected digital infrastructure is the catalyst for further growth and expansion into the mobility and connected home arena,” it adds.
Financial terms were not disclosed.
Affinity and Drexel distribute products through Canadian partners, including: Amazon, Bell, Best Buy, Canadian Tire, Costco, Giant Tiger, Home Depot, Hudson Bay Company, Rogers, Shaw, Staples, Telus, The Shopping Channel, The Source, TJ Max, and Walmart.
"Drexel is excited to welcome the Affinity Electronics team as we pursue significant growth and innovation opportunities represented by mobility and the connected home. It's a natural next step for Drexel as one of Canada's most trusted wholesale distributors and third party logistics service providers," said Jason Salmon, president of Drexel Industries,” in the release.
