06.2020: Mutares SE & Co. KGaA has signed an agreement to take over SABO Maschinenfabrik GmbH, one of the leading manufacturers of lawn mowers and other outdoor power tools. The seller is the US group Deere & Company (John Deere). SABO is one of the leading brands for high quality handheld lawnmowers and portable power tools in Europe. SABO manufactures lawnmowers and other power tools for outdoor use and markets them to homeowners, municipalities and gardening and landscaping companies. SABO, based in Gummersbach, Germany, was founded in 1932 and has been a subsidiary of Deere & Company since 1991. SABO employs approximately 125 people.
SABO will retain ownership of its brand assets and operations in Gummersbach. The company will continue to produce handheld lawnmowers and portable outdoor power tools and will sell these machines through its existing network of more than 1,100 dealers in Germany, Austria, Belgium, the Netherlands, Switzerland and Slovakia. According to Deere and Mutares, employees, customers, suppliers, dealers and distributors should hardly notice any changes in daily operations.
The transaction is expected to close by the end of July 2020.
Centum Capital provides this information as a market news, but has not been involved in the transaction.