Bosch has agreed to acquire shares in Husqvarna AB, subject to approval, reports Husqvarna. Bosch’s shareholding in Husqvarna would then amount to roughly 12 percent.
“We welcome Bosch as a large shareholder in the Husqvarna Group. We have collaborated closely during the development of the Power for All Alliance which is supporting our electrification journey,” says Tom Johnstone, chairman, Board of Directors, Husqvarna Group.
Bosch is a German multinational engineering and technology company with core operating areas spread across four primary business sectors: power tools, household appliances and other consumer goods; mobility (hardware and software); industrial technology (including drive and control); and energy and building technology. In North America, Bosch LLC (a wholly owned Bosch subsidiary) has corporate headquarters in Farmington Hills, Michigan.
“We are pursuing a systematic growth strategy with our business activities for consumers. This also includes strengthening existing partnerships through equity interests,” says Christian Fischer, the deputy chairman of the board of management of Robert Bosch GmbH, responsible for the company’s Energy and Building Technology and Consumer Goods business sectors. “Our ‘Power for All Alliance’ for rechargeable batteries is a success story that we want to continue,” he adds.
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-volt system. Last year, the Husqvarna brand strengthened the “Power for All Alliance” with DIY products for the garden segment.