The Thule Group Acquires TracRac, an Industry Leading Manufacturer of Truck Racks, Van Racks and Accessories

SEYMOUR, Conn., Nov. 8, 2010  /PRNewswire/ -- The Thule Group, world leader in products that make it easy for people to transport their equipment securely, safely and in style, announced today the acquisition of TracRac Inc.,  one of the leading US manufacturers of transport solutions for professional use.

Since 1995, TracRac has been an industry leading manufacturer of branded truck racks and accessories for professional use in the United States. With its headquarters located in Fall River, MA, having both design and manufacturing under the same roof, the company had quick success in the market producing a full line of cargo management systems products; including rack systems, accessories and workstations. TracRac products are functional and packed with unique features that enable custom configurations for professionals and sport enthusiasts alike.

The acquisition is fully in line with the Thule Group overall strategy to further increase the Group's presence in product categories around transporting equipment for professional tradesman as well for private use in different outdoor segments.

"The acquisition of TracRac Inc. will complement our current UWS and DeWALT branded products designed for the professional contractor segment," remarked Fred Clark, Thule Inc. President. "TracRac is an innovative company with a portfolio of products that will supplement our current product offering in a very good way. This acquisition is also a perfect fit with our corporate philosophy of simplifying our consumer's transportation of their equipment," ends Fred Clark.

"By joining the Thule Group, TracRac will be able to expand its retail presence in North America," remarked Scott Moran, CEO of TracRac Inc. "Thule has proven that they are serious about this market and we look forward to further expand our business together with their team."

About Thule Group

Thule Inc. is a wholly owned subsidiary of the Thule Group.

The Thule Group is world leader in products and brands that make it easy for people to transport their equipment securely, safely and in style. Under the motto Active Life, Simplified, the Thule Group offers products within four areas: Carry Solutions (laptop and camera bags, backpacks, etc), Vehicle Solutions (roof racks, bike racks, ski boxes, snow chains, etc), Work Solutions (ladder racks, tool boxes, etc) and Towing Solutions (towbars and trailers). The Thule Group has about 3,500 employees at more than 50 production facilities and sales offices worldwide. In 2009 sales amounted to SEK 5.8 billion.

Find out more at www.thule.com

About TracRac, Inc.

TracRac Inc. is a design and manufacturing firm headquartered in Fall River, MA., producing a full line of cargo management systems products; including rack systems, accessories and workstations. Manufactured and assembled in USA, TracRac products are functional and packed with unique features that enable custom configurations for professionals and sport enthusiasts alike.

For more information visit www.tracrac.com.

SOURCE Thule Group