|
March 20, 2007
Final agreement for acquisition of Gardena
Husqvarna has today signed a final agreement for acquisition of the German company Gardena AG.
Gardena is the leader in the consumer market in Europe for irrigation products, and also has a leading position in garden tools, garden ponds and pumps, and electric garden products. In the fiscal year ending September 2006, the company reported sales of EUR 422m (approximately SEK 3,800m) and operating income of EUR 54m (approximately SEK 486m). The company has approximately 2,900 employees.
The purchase price amounts to EUR 730m on a debt-free basis (approximately SEK 6.5 billion).
Gardena will be included in the Group's Consumer Products business area in the Rest of the world sector. Martin Bertinchamp, President of Gardena, will also be responsible for Group sales through mass-market channels under the brands Flymo, Partner and McCulloch. Sales to these channels, including Gardena, amount to approximately EUR 800 million. Martin Bertinchamp will become member of Husqvarna Group Management.
Hans Linnarson, current Head of Consumer Products Rest of the world, will continue to be responsible for sales of Husqvarna-branded products to the servicing dealer channel as well as for Commercial Lawn and garden within the Professional Products business area.
For more information, please contact Åsa Stenqvist, Senior Vice President, Corporate Communications and Investor Relations, Husqvarna, at +46 8 738 64 94.
Husqvarna is the world's largest producer of lawn mowers, chainsaws and portable petrol-powered garden equipment such as trimmers and blowers. The Group is also a world leader in diamond tools and cutting equipment for the construction and stone industries. Net sales in 2006 were SEK 29.4 billion and the average number of employees was 11,400.
  File for download (PDF)
|
