Husqvarna snaps up Swedish lawnmower firm
AFP · 8 Jan 2007, 10:24
Published: 08 Jan 2007 10:24 GMT+01:00
Klippo is the largest producer of petrol-driven walk-behind lawnmovers in Sweden, and includes products for professional users.
In 2005, Klippo reported sales of 140 million kronor and an operating profit of 20 million kronor. Sweden accounts for approximately two thirds of sales. The company has about 50 employees, and manufacturing is based in Sweden.
"The acquisition will significantly strengthen Husqvarna's position in the Nordic market for walk-behind lawnmovers for professional users. Synergies will be achieved in sourcing and distribution," said Husqvarna.
The acquisition is subject to approval by the relevant authorities and is expected to be finalized during the first quarter of 2007. The operation will be included in Husqvarna's Professional Products business area.