ToughBuilt Industries Inks New Expanded South American Distribution Deal With Sodimac

ToughBuilt Industries Inc TBLT has expanded its distribution agreement with Sodimac, the home improvement and construction supplier in South America.
In the extended agreement, stores in Chile, Peru, Argentina, Colombia, Brazil, and Uruguay will initially begin with 15 SKUs in-store and brings 23 SKUs to Sodimac's online marketplace.
Latin America customers will find ToughBuilt products in a wall display featuring some of the best-selling SKUs in the company's line.
Latin America represents a large portion of the $17.5 billion USD Global Hand Tools Market, with a projected regional growth of 3.9% CAGR through 2027.
"This expansion of our partnership with Sodimac increases opportunities for overall revenue success through the capture of additional Latin American market share," said CEO Michael Panosian.
Price Action: TBLT shares are trading higher by 3.40% at $2.13 on the last check Wednesday.