GERMANY - IK exits Gardena
Husqvarna has signed an agreement with Industri Kapital to acquire Gardena, a manufacturer of gardening tools in Europe. The purchase price amounts to EUR 730m which includes the transfer of debt, shareholder credits and pensions amounting to EUR 416m. Headquartered in Ulm, Germany, Gardena, which employs some 2,900 people, reported the best result ever for the financial year 2005/06, pro forma September 30. Sales increased by 7.2% to EUR 421.8m and EBITDA by 12.6% to EUR 77m.
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