Swedish lock maker Assa Abloy AB said Thursday that it has agreed to acquire Mottura Serrature di Sicurezza SpA, an Italian manufacturer of high-security residential armored lock cases and cylinder locks.
Mottura was established in 1972 and has around 120 employees. Sales in 2022 amounted to around 28 million euros ($30.4 million) and the acquisition will be accretive to earnings per share from the start, it said.
The acquisition is subject to customary closing conditions and is expected to close during the second quarter of 2023.
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