Apple reseller Select to acquire DID Electrical
Apple Reseller, Select Technology has entered an agreement to acquire Irish tech retailer DID Electrical, with the deal being subject to CCPC regulatory approval.
The deal, which has been agreed on for an undisclosed sum, will combine two Irish businesses headquartered and operated from Dublin with the aim of continued growth and expansion across Ireland.
Formerly known as Compu b before its rebranding in 2022, Select Tech Group sells Apple products in the Irish market, with locations in Dublin, Cork, Limerick and Galway.
In 2022, Select Tech posted revenues of more than €58m, recording an operating profit of €878,710, according to most recent financial statements submitted to the Company Registration Office.
Family-owned DID Electrical has been in operation for more than 60 years and has more than 20 stores nationwide, with its newest site opened just one year ago in Turner’s Cross in Cork.
As part of the deal, Select’s portfolio will increase to 29 stores across Ireland, and up to 51 stores in total across Ireland and the UK. In addition, DID Electrical stores will remain under the DID Electrical brand, while Select’s customer experience will be integrated into DID Electrical stores.
Furthermore, Select will integrate the DID Electrical teams, growing the business to more than 650 people across the Group.
Announcing the agreement, Select’s Managing Director Ciaran McCormack, commented, “This deal immediately accelerates our potential Irish retail growth and expansion across Ireland with the addition of 23 stores and a great online offer.”
“It also sees us diversify our product portfolio and through our planned investment, we can bring our premium technology experience to a whole new and wider customer base. We are delighted to be acquiring DID, as a household Irish brand name, one that I personally grew up with, and we want to ensure customers that they will get the same great service and competitive prices along with the added Select experience.”
Mr McCormack added that the deal will allow Select to combine the skills and expertise of the two retailers, “which have driven our growth in consumer electronics & technology retail, B2B and Apple education sales with the passion and talent across the DID Electrical business which we feel will mean that both businesses thrive for years to come.”