Ingram Micro Makes 'Binding Offer' to Acquire French-Based Supplier Anovo

Supply chain services supplier Ingram Micro made a "binding offer" to acquire Anovo, a French-based supplier of reverse logistics and repair services for smartphones, tablets, wearables and set-top boxes across Europe and Latin America, the companies said in a joint announcement Friday. Anovo has operations in seven countries in Europe (Belgium, France, Germany, Poland, Spain, Switzerland and the U.K.), three in South America (Chile, Columbia and Peru), plus China, but none in North America, its website shows. The acquisition is to be completed in early 2015, the companies said. Terms weren’t released, but Anovo is expected to contribute more than $300 million annually to Ingram Micro’s revenue, they said. Europe and Latin America are "two regions that are experiencing robust growth with the proliferation of mobile devices, accessories and wearables," they said. Anovo CEO Francois Lacombe will continue to lead the company after it becomes an Ingram Micro subsidiary, they said. In a separate announcement Monday, Ingram Micro said it acquired a majority stake in Armada, which it called the largest value-added technology distributor in Turkey, with 2013 sales of more than $280 million. Ingram Micro plans to make a mandatory tender offer for the remaining shares in compliance with Turkish financial rules, the company said. Terms weren't disclosed.