Lifco acquires ErgoPack's distributor in the US
Lifco has signed an agreement to acquire ErgoPack’s distributor in the US. Lifco acquired the majority of the German company ErgoPack in 2019. ErgoPack is the leading manufacturer of ergonomic and mobile pallet strapping systems, which are used globally in different industries. ErgoPack’s distributor in the US generated sales of approximately USD 4.2 million in 2020 and 100% of the sales is generated from ErgoPack which means that the acquisition will have very limited effect on Lifco’s consolidated external sales. The acquisition is an assets and liabilities