Snap-On (SNA) Announces ~$13M Acquisition of Sturtevant Richmont
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Snap-on Incorporated (NYSE: SNA) announced that it has acquired Sturtevant Richmont for approximately $13 million in cash. Based in Carol Stream, Illinois, Sturtevant Richmont, with annual sales of approximately $10 million, designs, manufactures and distributes mechanical and electronic torque wrenches as well as wireless torque error proofing systems for a variety of industrial applications. The acquisition of Sturtevant Richmont, which will be part of the company’s Commercial & Industrial Group, enhances and expands Snap-on’s capabilities in providing solutions that address torque requirements, which are increasingly essential to critical mechanical performance.
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