# GAM acquires Ascendum's cargo handling division in Portugal

Spanish multinational GAM acquired the material handling machinery business area of Ascendum Group for €4 million, becoming a distributor of Hyster and Yale forklifts in Portugal and integrating 22 employees.

- Type: Acquisition
- Announced: 2021-09-29
- Where: Portugal
- Value: $4.70M (4.00M EUR)
- Jobs: 22
- Status: completed
- Products: Hyster and Yale forklifts, material handling machinery
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [GAM](https://endata.com/companies/56470.md) (acquirer)
- [Ascendum Group](https://endata.com/companies/58014.md) (target)

## Sources

- [grandeconsumo.com](https://grandeconsumo.com/en/Gam-purchase-of-the-cargo-handling-division-of-Ascendum/), 2021-09-29: "The purchase of this business area from such an important group as Ascendum strengthens our position in Portugal."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.