More than 10 years ago, Garmin's management launched a strategy of acquiring many of its foreign distributors. It bought up many of those in Europe, South America, and South Africa. Bringing distributors under the corporate umbrella helped to strengthen sales in these markets, growing global market share and bringing efficiencies and cost savings. More recently, in April 2019, it closed its acquisition of Tacx, a private maker of indoor bike trainers, tools, accessories, and software. This strategy was a success even prior to the pandemic. It said in its first-quarter conference call in April that it had designated capital spending toward building a new factory for Tacx in 2020, to keep up with demand.
Tacx Trainer Software 4 0.47
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