STIHL Group acquires Globe Tools stake

MOORESVILLE, N.C. ― The STIHL Group has acquired a minority stake in Globe Tools, a Hong Kong-based manufacturer of corded and cordless garden tools, air compressors, pressure washers, and generators. “This move enables us to quickly expand the STIHL cordless product line for the customers of our servicing dealers in the entry-level segment and offer high class products in STIHL quality at competitive prices”, explains STIHL executive chairman Bertram Kandziora. The participation agreements were concluded by the STIHL Group and the Globe Tools Group  earlier this month. It was agreed not to disclose the price of the participation. Approvals from antitrust and other authorities in several countries still have to be granted before the participation can be completed and cooperation begun.