Hitachi Koki Co. has announced that it will acquire full ownership of Nurtingen, Germany-based Metabo Aktiengesellschaft from its parent company Power Tool Invest B.V.
While Hitachi didn't disclose financial terms of the deal in its press release, Pro Tool Reviews reports that Metabo was acquired for $180 million.
Metabo's reputation focus on its grinding products in the European market, though its tools are used by professional users and pipefitters worldwide. The company has sales offices in 25 countries.
Tokyo-based Hitachi said the addition of Metabo's strong brand name will gain it a strong sales channel in Europe, particularly in Germany, and boost Hitachi's procurement ability in Europe, which could reduce its Euro exchange risk.
Hitachi Koki had 2014 total sales of more than $1.06 billion, with a global workforce of around 5,000. It said Metabo had 2014 sales of $398 million with 1,800 employees worldwide.
