Franklin Electric Announces Execution of Definitive Agreement for the Acquisition of Barnes de Colombia

Core Insights - Franklin Electric Co., Inc. has signed a definitive agreement to acquire Barnes de Colombia S.A., enhancing its growth and diversification strategy in Latin America [1][3] - The acquisition is expected to close around March 1, 2025, pending customary closing conditions including Colombian antitrust clearance [4] Company Overview - Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy, serving various sectors including residential, commercial, agricultural, industrial, municipal, and fueling applications [6] - The company has been recognized in multiple lists for its responsible business practices and environmental leadership [6] Acquisition Details - Barnes de Colombia is a leading manufacturer and distributor of industrial and commercial pumps, with operations in Colombia and other Latin American countries [2][3] - The acquisition will enhance Franklin Electric's product portfolio and market presence in key Latin American regions, leveraging Barnes de Colombia's distribution network and customer relationships [3][4] - Barnes de Colombia operates under the WDM brand in certain countries, and has manufacturing facilities in Colombia and assembly facilities in Mexico, Brazil, and Argentina [2] Strategic Goals - The acquisition aligns with Franklin Electric's strategic goals of diversifying its product line and enhancing supply chain resilience [3] - The integration of Barnes de Colombia's approximately 400 team members and manufacturing capabilities is expected to materially enhance Franklin Electric's operational footprint [4]