Husqvarna has signed an agreement with Jenn Feng Company., Ltd. for acquisition of the company's operation in outdoor products.
Jenn Feng, a listed Taiwanese company, is a leading producer of chainsaws and trimmers for the consumer market. The product offering also includes lawn mowers, high-pressure washers and generators. In 2007, Jenn Feng’s outdoor product division reported sales of approximately 120 million USD.
The acquisition gives the Husqvarna Group a greater presence as well as a wider manufacturing base in Asia. It also gives Husqvarna access to the McCulloch brand in the North American market. Husqvarna already owns the rights to this brand in the rest of the world.
The acquisition is scheduled for completion in the second quarter of 2008, subject to approval by the relevant authorities at the Jenn Feng’s annual general meeting.