Icon Group, issued in December 2021 on the Tel Aviv Stock Exchange, today updates on a significant acquisition as part of the company’s growth strategy. Icon Group acquires control (85%) of Visual DG at a company value of approximately NIS 80 million.
Visual DG is a long-standing, profitable and growing distribution company that has been operating since 2003, specializing in providing advanced computing solutions to the consumer and commercial market, through an extensive network of hundreds of marketers in the Israeli market. The company distributes three product lines of leading brands product lines in the field of hardware and backup, including brands such as: Lenovo, ASUS, HPE and more.
Visual DG’s revenue turnover in 2021 is estimated at NIS 370 million, gross profit at NIS 30 million, and net profit estimated at NIS 10-12 million. These data reflect the growth trend that has characterized the company’s operations in recent years.
At the same time, Icon reports that it is negotiating the acquisition of 51% of Blues Distribution Ltd., a company that is currently 49% owned by Visual, for NIS 15-18 million. Blues is a franchisee for the distribution of products and services from IBM in Israel.
Roni Israeli, Co-CEO and CEO of the distribution activity at Icon Group: “Today we announce the acquisition of Visual, which is a distribution company, growing, profitable and with great business potential for the group. This acquisition is part of our decision to grow accelerated through mergers as well. Acquisitions, and is in line with our business strategy to expand the Group’s distribution platform. Through the acquisition, we significantly expand the Group’s operations by increasing the product portfolio and adding leading brands in addition to Apple products. “Do not continue to act and lead the distribution of the brands under its care, under the management of Alon Eilam with the staff that made it a leading company in the Israeli market.
Alon Eilam, CEO of Visual: ‘The acquisition of Visual by Icon Group is an expression of confidence in the company’s capabilities to continue to grow and grow as it has in recent years. We see the acquisition as a power multiplier for increasing the activity and product basket of Visual and Icon Group. “
Icon Group was established in 2007 and has the largest activity in Israel in the world of Apple products. The company has two main areas of activity: the distribution area in which the company is an official importer and distributor of Apple products, and the retail area, which includes a franchise contract for Apple stores in the Premium Reseller format, under the iDigital brand. The company also has a repair service and an official Apple products lab. In December 2021, Icon Group completed an IPO on the Tel Aviv Stock Exchange