VTech Completes Acquisition of Mexican Manufacturing Facility from QSC, LLC
Hong Kong – VTech Holdings Limited (HKSE: 303) announced today that it has completed the acquisition of a production facility in Tecate, Mexico from QSC, LLC for manufacturing wood enclosure loudspeakers.
The acquisition was announced on 20 January 2021. In addition to manufacturing wood enclosure loudspeakers, it strengthens VTech Contract Manufacturing Services' leading position as a manufacturer of professional audio equipment. Furthermore, the acquisition of a manufacturing site outside Asia expands VTech's global footprint strategically and better serves the needs of its customers.
The transaction was completed on 1 April 2021 and was funded through internal resources.
VTech is the global leader in electronic learning products from infancy through toddler and preschool and the largest manufacturer of residential phones in the US. It also provides highly sought-after contract manufacturing services. Since its establishment in 1976, VTech has been a pioneer in the electronic learning toy category. With advanced educational expertise and cutting-edge innovation, VTech products provide fun and learning to children around the world. Leveraging decades of success in cordless telephony, VTech's diverse collection of telecommunication products elevates both home and business users' experience through the latest in technology and design. As one of the world's leading electronic manufacturing service providers, VTech offers world-class, full turnkey services to customers in a number of product categories. The Group's mission is to design, manufacture and supply innovative and high quality products in a manner that minimises any impact on the environment, while creating sustainable value for its stakeholders and the community.