Released July 10, 2016
Leading house brands distributor, The Tempo Group have acquired the UK award winning TV brand Linsar.
Tempo is the Australian distributor of Philips and Hitachi TV’s in Australia. They are also a major supplier of Sterling appliances and Bauhn consumer electronic goods to Aldi. They also supply Bunning, Big W as well as Harvey Norman and JB Hi Fi as well as The Good Guys.
Last year Tempo supplied 10,000 UHD TV’s to Aldi that sold out in under two hours.
The acquisition which is effective immediately.
A spoksperson for Tempo, told ChannelNews that the acquisition of the Linsar brand will enable the brand to develop significantly in the UK and in other European markets.
Linsar was formed in 2006 by Barry Kick and Terry Reed.
Both these executives have vast experience in the consumer electronics industry having worked previously at Thomson / Ferguson, Akai and Dixons. They also launched TiVo in partnership with Sky.
Currently the brand is stocked by UK retailers such as John Lewis and Euronics and is further stocked by over 600 independent retailers in Europe.
Revenues or the acquisition price have not been disclosed for the private UK Company. However turnover of Linsar is tipped to grow to over $70M.
On the commercial side the Company has established a market for their TV’s for use in caravan parks, oil rig accommodation blocks, boutique hotels, serviced apartments and the public sector.
The Company also supplies UK direct retailer Argos with house brand TV’s similar to what Kogan does in the Australian market.
In the past the Linsar TV’s have been assembled at Vestel’s TV factory in Turkey.
Vestel are the quiet giant when it comes to TV production, making models for over 500 different TV brands across the world.
They operate a gigantic state-of-the-art factory in Turkey which attracts the best talent from Turkish universities the Company said.
Currently several Hitachi TV’s sold at Harvey Norman and JB Hi Fi are manufactured at the giant Vestel facility.
Vestel uses panels made by LG and Samsung, they also manufacture their own display screens.