Garmin Ltd announced in late December that it has acquired Centro GPS, the distributor of Garmin’s automotive, outdoor recreation, fitness and marine products in Chile. Centro GPS will be renamed Garmin Chile and will continue operations at its current facilities located in Santiago, which employs approximately 25 associates.
“We are happy to welcome the Chilean team into the Garmin family,” said Dr Min Kao, Chairman and CEO of Garmin Ltd. “Garmin is investing heavily in the emerging South American market, and this is a key acquisition that will allow us to maintain a leadership role in this important region.”
The acquisition of Centro GPS is preceded by Garmin’s opening of a Brazilian office in 2006, and represents its continued commitment to the emerging South American market. Financial terms of the transaction were not released.
