The SPEAR & JACKSON GROUP is delighted to announce that it has completed the acquisition of PRCI, S.A.S., a wholly owned subsidiary of Q.E.P. CO., INC. (OTCQX: QEPC) based in Florida, USA. Spear & Jackson Group Limited and Neill France, S.A. (part of the Spear & Jackson Group) have now completed the aquisition of the PRCI, S.A.S. business, which was was founded in France in 1984, and is a key player of tile and plumbing tools in the French market.
Famous Tiling and Plumbing Hand Tools
Spear & Jackson Group’s Chairman Simon N. Hsu, noted, “We have a long and proud history in France, crafting high quality garden hand tools from our base in Saint-Chamond. We are delighted to acquire PRCI and its famous tiling and plumbing hand tool brands to further enhance our professional hand and contractor tool activities in the French and European markets.
Len Gould, QEP’s President and Chief Executive Officer, noted, “This divestiture continues our strategy to refocus efforts and resources in North America. PRCI is in good hands with Spear & Jackson going forward, which will allow us to increase our force and focus on our markets here.”
The Spear & Jackson Group is a UK headquartered subsidiary of the Hong-Kong based SNH Global Holdings Limited (“SNH”), a diversified holding company with principal operating subsidiaries engaged in a numbers of diverse business activities around the globe. SNH products are sold in more than 100 countries around the world. Spear & Jackson Group with over 265 years of industrial heritage, employing approximately 500 people globally and with a history dating back since1760. It has 8 operating companies under three principal groups: Hand & Garden Tools, Precision Measurement and Magnetic Technologies.
