Bosch to take stake in Husqvarna
By Mike Brezonick27 January 2023
German conglomerate Robert Bosch GmbH has agreed to acquire shares in the long-established Swedish company Husqvarna AB. The acquisition will give Bosch a roughly 12% stake in Husqvarna’s total share capital.
In acquiring the shares, Bosch said it intends to strengthen the battery alliance between the two companies. Husqvarna’s portfolio includes professional forestry and garden tools, light construction equipment, robotic lawn mowers, irrigation systems and grinding tools.
Husqvarna’s Gardena subsidiary and Flymo brand are both partners in the Bosch Power Tools division’s “Power for All Alliance.”
“We are pursuing a systematic growth strategy with our business activities for consumers,” said Christian Fischer, deputy chairman of the board of management of Robert Bosch GmbH who is responsible for the company’s Energy and Building Technology and Consumer Goods business sectors.
“This also includes strengthening existing partnerships through equity interests. Our ‘Power for All Alliance’ for rechargeable batteries is a success story that we want to continue.”
The Power for All Alliance was set up by Bosch Power Tools and Husqvarna subsidiary Gardena for the European market in the summer of 2020, and is one of the first cross-brand battery alliances featuring products relating to all home-based activities.
Ten brands compromising around 100 devices are now participating in the alliance with the aim of offering users a broad, cross-brand 18 V system. Last year, the brand Husqvarna has strengthened the “Power for All Alliance” with DIY products for the garden segment.
“We welcome Bosch as a large shareholder in the Husqvarna Group,” said Tom Johnstone, chairman of the board at Husqvarna Group. “We have collaborated closely during the development of the Power for All Alliance which is supporting our electrification journey.”
The completion of the acquisition of the shares is subject to approval by the Brazilian antitrust authority.