THE NETHERLANDS: Hevea Acquires Suretred Footwear
Vredestein's footwear subsidiary Hevea BV has reached an agreement to acquire UK-based industrial footwear manufacturer Suretred. With a turnover in 1999 of €2.6 million, and a workforce of 21 employees, Suretred manufactures and sells PVC Wellington boots.The acquisition will help strengthen Hevea's position in the UK industrial footwear market.Suretred is the third company that Hevea has added to its portfolio this year. The first, in January, was Viking Footwear; followed in April by Russian producer Xenoplast.The integration of Suretred into the Hevea organisation will raise the group's annual turnover to €70 million.The acquisition, which is subject to the usual conditions, is expected to be completed by the end of September.
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