The German AL-KO Gardentech will take over the New Zealand garden and outdoor equipment manufacturer Masport, subject to Completion. The parties agreed on confidentiality regarding the financial terms.
Masport is the market leader in New Zealand and the Number 2 in Australia in the development and production of high-quality gardening equipment under the brands Masport and Morrison. In addition, the company founded in 1910 and based in Auckland, offers a wide range of barbecue equipment.
"We are pleased to bring one of the strongest garden equipment brands across the Atlantic into the AL-KO Group. This investment is clearly a signal for a strong future for AL-KO Gardentech”, says Stefan Kober, CEO of AL-KO Kober SE. "Due to the anticyclical garden season, both sales growth and profitability continue to be boosted. Therefore, we will be able to continue this positive development in recent years. The products and the customer service of Masport are fully in line with the AL-KO claim Quality for Life."
"The excellent economic situation of Masport shows a well-established and well-managed company. We see no reason for internal change, and see considerable development potential for AL-KO Gardentech and Masport within the corporate group. Steve Hughes, who has been managing the company for 10 years, will continue to lead the business and will report directly to me in the future. Both brands will benefit from an exchange of know-how – which will ultimately be of benefit to the end consumer. With great care we will examine to what extent a mutual product and market integration will take place”, says Dr. Wolfgang Hergeth, Managing Director of AL-KO Gardentech.
„AL-KO Gardentech and Masport will form a strong duo on the global gardening market. I am pleased we have been able to continue our positive development under the umbrella of a modern group of entrepreneurial traditions and to provide our customers with first-class and innovative products. The partnership also is evidence for outstanding work that we will continue with an unchanged team“, says Steve Hughes, Managing Director of Masport.
Visit: www.al-ko.com