ToughBuilt Industries Inks New Expanded South American Distribution Deal With Sodimac

  • ToughBuilt Industries Inc TBLT has expanded its distribution agreement with Sodimac, the home improvement and construction supplier in South America.
  • In the extended agreement, stores in Chile, Peru, Argentina, Colombia, Brazil, and Uruguay will initially begin with 15 SKUs in-store and brings 23 SKUs to Sodimac's online marketplace.
  • Latin America customers will find ToughBuilt products in a wall display featuring some of the best-selling SKUs in the company's line.
  • Latin America represents a large portion of the $17.5 billion USD Global Hand Tools Market, with a projected regional growth of 3.9% CAGR through 2027.
  • "This expansion of our partnership with Sodimac increases opportunities for overall revenue success through the capture of additional Latin American market share," said CEO Michael Panosian.
  • Price Action: TBLT shares are trading higher by 3.40% at $2.13 on the last check Wednesday.
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