Santa Ana’s Ingram Micro Inc., the top distributor of technology products, made a further move into consumer electronics with plans to buy Scottsdale-based DBL Distributing Inc. for $96 million.
DBL, which distributes consumer electronics accessories such as cables and speakers to stores, has about 350 workers. It had sales of about $300 million last year.
DBL see higher profits on the products it handles,more than double those of Ingram Micro, according to the company.
Ingram Micro has gone after more consumer electronics business as the sector has grown to rival the computer industry, the company’s traditional market.
The strategy positions the company “at the forefront of two significant trends: the continuing convergence of commercial and consumer technologies and the growing importance of retailers in the marketplace,” said Greg Spierkel, chief executive.
Ingram plans to pay for the acquisition with an existing line of credit.
DBL is set to keep its brand name and management, according to Keith Bradley, president of Ingram Micro’s North America operations.
The deal is expected to add to Ingram’s profits for the next three years, after $3 million in taxes and expenses related to the write down of intangible assets, the company said.
