“As the largest acquisition in Bosch’s corporate history, this is an important milestone in the consistent implementation of our Strategy 2030,” said CEO Stefan Hartung on Tuesday. The company is thus strengthening its heating business Bosch Home Comfort, the core of which is the former Buderus in Wetzlar.
The parties involved signed binding agreements on Tuesday. The takeover is expected to take place in twelve months – provided the authorities approve the deal.
“With this acquisition, we are achieving a leading market position worldwide in the promising heating, ventilation and air conditioning market,” said Hartung. This will enable Bosch to make progress, particularly in the USA and Asia. The acquired business had a turnover of four billion euros and 12,000 employees last year. Bosch Home Comfort will therefore grow to nine billion euros.