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Press release Stockholm , Sweden , September 17 , 2021 DOMETIC ACQUIRES IGLOO WITH MORE THAN USD 400 MILLION IN ANNUAL REVENUES On September 17 , 2021 , Dometic entered into an agreement to acquire Igloo - one of the world's leading companies in passive cooling boxes and drinkware . SUMMARY ● ● ● ^ > DOMETIC Mobile living made easy . ● The acquisition of Igloo will significantly strengthen Dometic's offering and distribution network for the outdoor market North America . Dometic will acquire Igloo for USD 677 million , on a cash and debt free basis . Net sales of Igloo for the previous 12 months ¹ were USD 401 million ( a growth of 24 % ) , with an EBITDA margin of 10.1 % . Sales and cost synergies are expected to generate annual improvements on EBITDA of approximately USD 50 million , to be realized within five years . The transaction is expected to be accretive to Dometic's EPS in 2022 . Closing is expected in Q4 2021 , subject to regulatory approvals . Dometic invites to a telephone conference about the transaction today at 13.00 ( CEST ) . The acquisition of Igloo is a major step in Dometic's strategy to continue grow in the attractive outdoor industry and creates a strong base for further growth globally . " I am excited to welcome Igloo and its employees to Dometic . This acquisition is in line with our strategy to position Dometic as a more consumer driven , less cyclical company in the fast - growing outdoor business . North America is the largest market for cooling boxes and outdoor products , and with Igloo's strong brand recognition , consumer knowledge and local manufacturing capabilities , we are getting the necessary tools to further drive our sales and margin expansion . " says Juan Vargues , President and CEO of Dometic . " Igloo has shown strong sales growth , market share gains and margin improvements in recent years , driven by both commercial and operational initiatives . Further sales and cost synergy activities will be implemented to generate continued improvements . " continues Juan Vargues . " Our strategy for profitable expansion is built on a combination of organic and acquisitive growth . This is our eighth acquisition this year and our pipeline of potential future acquisitions remains strong . " says Juan Vargues . DESCRIPTION OF IGLOO Igloo is a global provider of passive cooling boxes and drinkware products for the outdoor market . Founded in 1947 , Igloo is perceived as one of the leading manufacturers in the world with an iconic brand , a wide product range and strong consumer orientation . With 92 % of net sales in the US and products available in more than 90,000 retail stores globally , Igloo also has its own fast - growing direct to consumer sales channel . ABOUT DOMETIC Dometic is a global market leader in branded solutions r mobile living in the areas of Food & Beverage , Climate , Power & Control and Other Applications . Dometic operates in the Americas , EMEA and Asia Pacific , providing products for use in recreational vehicles , pleasure and workboats , trucks and premium cars and for a variety of other uses . Our motivation is to create smart and reliable products with outstanding design . We sell our products in approximately 100 countries and we have a global distribution and dealer network in place to serve the aftermarket . Dometic employs approximately 7,200 people worldwide , had net sales of approximately SEK 18.5 billion in 2019 and is headquartered in Stockholm , Sweden .