STIHL, a family-owned business, has acquired a majority stake of 75.1 percent in Mogatec GmbH, a specialist for modern garden technology, making it the majority shareholder of the company based in Drebach, Germany. STIHL plans to acquire the remaining Mogatec shares in stages over the next few years. This move is based on a long and close relationship between the two companies. STIHL and Mogatec work together to develop and produce individual tools on the basis of customer orders.
Dr. Nikolas Stihl, Chairman of the Advisory Board and Supervisory Board at STIHL, says: "We are delighted that Mogatec is now officially part of our family business after working together for almost 30 years. Having an experienced specialist like Mogatec at its side will allow STIHL, as a producer of garden and power tools, to expand its development and manufacturing expertise, especially in the battery growth market." Martin Schwarz, STIHL Executive Board Member for Manufacturing and Materials, adds: "The addition of Mogatec's employees to the STIHL family is the logical next step in our close partnership. It serves to reinforce the international STIHL production network and paves the way for further growth, including in Saxony, Germany. I look forward to STIHL and Mogatec continuing their shared journey." Mogatec shareholder Erik Jachmann says: "There is a long-standing connection between the two companies and a great deal of trust to match. As a family-run global market leader and family business, STIHL represents values that align perfectly with ours. This union means Mogatec is ideally positioned for the future."
A boost to the site in Drebach, Germany
Mogatec Managing Directors Tobias Wetzel and Alexander Gränitz say: "Our integration into the STIHL Group is the beginning of new chapter in Mogatec's more than 30-year success story. Having a leading global player such as STIHL by our side provides a long-term boost to our site in Drebach." STIHL, a family-owned business, intends to let Mogatec continue as an operationally independent company. Mogatec Managing Directors Tobias Wetzel and Alexander Gränitz will continue to jointly manage operations.
Mogatec GmbH is a specialist for modern garden technology and was founded in 1992. Having started with a staff of 15, it now employs around 430 people at its headquarters in Drebach, Germany, and produces components that are used in the manufacture of transmission, coupling, and cutting systems, as well as electric and battery-powered garden tools. Mogatec generated revenue of approximately 100 million euros in 2021.