In a surprise announcement, the acquisition of Petra Industries, was announced by Virtual Supply, a 100 year old consumer electronics, tech and business solutions distributor out of Oregon.
Virtual Supply announced it had completed the purchased of Petra, which distributes brands including Pioneer, JVC, and Metra, with a brand mix encompassing 500 consumer electronics and other electronics vendors.
Virtual Supply, a privately held distributor, said the combined companies create “a stronger platform with expanded capabilities, a broader product portfolio and enhanced opportunities for customers, vendors and employees.”
The deal gives Virtual Supply access to Petra’s established 325,000-square-foot distribution center in Edmond, Oklahoma. This complements Virtual Supply’s existing operations in Oregon and Arizona.
Virtual Supply said, “The combination also adds more than 127 experienced Petra team members, along with established product lines and long-standing brand partnerships that broaden the company’s portfolio.”
“Petra is an important addition to Virtual Supply, not simply because of the scale it brings, but because of the strength of its experienced team, its customer and vendor relationships, and the outstanding reputation it has built over more than 40 years,” said Chuck Taylor, CEO of Virtual Supply. “We see tremendous opportunity to build on those strengths; broaden the capabilities we bring to the marketplace and create an even stronger platform for long-term growth.”
Virtual Supply was founded in 1927 and is headquartered in Beaverton, Oregon.
Petra Industries was founded in 1985. Other brands it carries include Kenwood, Garmin, Cobra, Cerwin-Vega, Pyle, dB Drive and more.
Get the news before your competitors do. CEoutlook is the daily brief read by over 6,500 dealers, reps and manufacturers across the mobile electronics industry. Subscribe free.
