AL-KO Gardentech becomes new owner of Masport
AL-KO Gardentech, a German manufacturer of high-quality gardening equipment, replaced the Tiri Group as the owner of Masport, effective Oct. 2, 2017. The parties agreed on confidentiality regarding the financial terms. An agreement was entered into in August 2017.
AL-KO Gardentech is part of the AL-KO Kober Group, which is active in the fields of garden technology and air technology at several sites in Europe, America, Asia and Africa. AL-KO Gardentech succeeds through innovation, expertise and premium quality. In addition to products from lawn, tree and hedge trimming, and tillage, as well as irrigation and drainage technology, AL-KO Gardentech also relies on new technologies such as rechargeable batteries and smart garden. The AL-KO product portfolio features gardening tools for garden lovers, semi-professional users and experts.
“Masport and AL-KO Gardentech will form a strong duo on the global gardening market,” said Steve Hughes, managing director of Masport. “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 under the name Masport. The partnership also is evidence for outstanding work that we will continue with an unchanged team.”
“We are pleased to bring Masport into the AL-KO Kober Group,” said Stefan Kober, CEO of AL-KO Kober SE. “This investment is clearly a signal for a strong future for both companies. The products and 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,” said Dr. Wolfgang Hergeth, president and managing director of AL-KO Gardentech. “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.”
AL-KO Kober Group is one of the global players among the German medium-sized companies with its Gardentech and Air Technology divisions, as well as a strategic partnership in the Vehicle Technology division. In 1931, Alois Kober laid the foundation for a rapid rise and a long-standing entrepreneur tradition with a forge in Kötz near Augsburg (Bavaria-Germany). The modern corporate group operates on 45 sites in Europe, America, Asia, Africa and Australia.
