ASSA ABLOY, the Sweden-based conglomerate that provides locks, doors, gates, and entrance automation products and services, has signed an agreement to acquire VHS Plastik Metal (VHS), a leading manufacturer of hardware and accessories for windows and doors based in Türkiye.
"I am very pleased to welcome VHS into the ASSA ABLOY Group. This constitutes an important next step in our strategy to grow market leadership in emerging markets," says Nico Delvaux, CEO of ASSA ABLOY.
ASSA ABLOY Executive Vice President, Neil Vann, spoke favorably about the deal, too: "We are very excited about the acquisition of VHS. This transaction is a step change to our existing trading business in Türkiye and reinforces our long-term commitment to the local market. VHS offers a strong range of window and door hardware products that will complement our offering in Türkiye."
ASSA ABLOY has 190 brands in its portfolio, including Yale for home access and security solutions and HID, a top-tier developer for trusted identity solutions.