Investment in garden business Bosch purchases garden watering business from Nelson
Complement to Bosch’s Power Tools division
· Bosch acquires Nelson Consumer Products and Sunterra divisions
· Nelson businesses employ approximately 250 associates
· Acquisition boosts Bosch’s garden business to sales of about 500 million U.S. dollars or more than 350 million euros
Stuttgart – Bosch has acquired parts of the garden watering and outdoor décor business of L.R. Nelson Corporation headquartered in Peoria, Illinois, USA. By purchasing the Nelson Consumer Products and Sunterra divisions, Bosch broadens its garden product portfolio. All relevant regulatory approvals have already been granted. The purchase price for the acquisition was not announced. The acquired product portfolio includes hose end and water gardening products such as sprinklers, nozzles, filters, pumps and fountains. About 250 associates affiliated with this business generated sales of 80 million U.S. dollars (60 million euros) in 2007.
“The Nelson product range is an excellent complement to our existing garden business”, said Manfred Seitz, president of Bosch Power Tools division in North and South America. “Through this acquisition, we will boost our world-wide sales in garden technology to 500 million U.S. dollars”, Seitz added. The acquired parts of Nelson will be integrated into the US-based garden and watering division of Bosch.
Bosch has long-standing know-how in the garden business including Gilmour, a well-established garden and watering brand in the U.S. In 2007, Bosch generated more than 130 million U.S. dollars (approximately 100 million euros) with garden and watering products. Additionally, the company increased sales with electric garden tools by 30 percent to about 280 million U.S. dollars (approximately 200 million euros). Thus, Bosch continues to consolidate its position as a leader in the garden business.
With power tools, accessories, garden tools, bench top tools and measuring technology, Bosch generated sales of 3.1 billion euros (approximately 4.2 billion U.S. dollars) in 2007. The Bosch Power Tools division employs a global workforce of approximately 16,000 associates.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 271,000 associates generated sales of 46.3 billion euros in fiscal 2007. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in roughly 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Each year, Bosch spends more than 3 billion euros for research and development, and applies for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.”
The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.
Additional information can be accessed at www.bosch.com.
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