Sweden's Assa Abloy announced on Tuesday that it had acquired Wesko Locks, a Canadian manufacturer of electronic and special-purpose locks.

In a press release, the group explains that the high-quality, innovative products and excellent service it offers its customers will enable it to strengthen its own activities in this field.

Founded in 1990, Wesko Locks employs around 70 people at its site in Mississauga, near Toronto.

Its annual sales amounted to around 15 million euros in 2023, with a 'solid' operating margin, meaning that the acquisition will be accretive from the very first year.

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