Garmin® Signs Letter of Intent to Acquire South African Distributor (GRMN)

Garmin GRMN announced today that it has signed a letter of intent for the proposed acquisition of Garmin Distribution Africa Ltd., the distributor of Garmin's automotive, outdoor recreation, fitness and marine products in Southern Africa. After the acquisition is completed, the company will be renamed Garmin Southern Africa Ltd. and will continue operations at its current headquarters and warehouse facility located near Johannesburg, which employs approximately 70 associates.