Einhell Germany AG: Further growth through acquisition in Thailand
On June 1st Einhell Germany AG, the leading manufacturer of cutting-edge DIY and garden tools, took the next major step in pursuit of its long-term growth strategy with the acquisition of a 66.67 percent stake in Thai company Surazinsano Co. Ltd. The seller and joint shareholder has been a successful player on the Thai market for decades.
Einhell completes entry into Thai DIY market
Einhell Germany AG had already announced that it was seeking further growth through additions – and now it has delivered. With the purchase of two thirds of the shares in the Thai company Surazinsano Co. Ltd., the leading manufacturer of cutting-edge DIY and garden tools has completed its entry into the Thai do-it-yourself market, which is the largest in southeast Asia with turnover in the region of EUR 3.8 billion. Posting sales of EUR 18 million, the company predominantly sells welding equipment, electric tools and high-pressure cleaners. It also has ideal connections in the Thai DIY market. The acquisition gives the Einhell Group access to the Thai market and its local specialty retailers and DIY stores. Alongside the existing brands, Einhell will focus on driving both the introduction of the Power X-Change battery platform and the development of the e-commerce sales channel.
Important milestone of the growth strategy
“To enable us to reach our medium-term revenue targets, it is our stated aim to consistently expand our international distribution network so that we can tap into new DIY markets for the Einhell Group and our products. The acquisition of this majority stake in Surazinsano Co. Ltd. is another milestone in pursuit of our growth strategy,” says Andreas Kroiss, CEO of Einhell Germany AG, commenting on the purchase.
In 2022 the company had already acquired 66.67 percent of the shares in Canadian company Outillages King Canada, Inc. This firm has established a very strong position for itself as a distributor of power tools, industrial equipment, and accessories. The takeover of a long-standing partner in Finland followed in November 2022. The plan for the next few years provides for the addition of further sales subsidiaries to the existing organization. Einhell Germany AG currently comprises 48 subsidiaries across the world.
Power X-Change battery system driving success
The growth and business success of Einhell Germany AG is driven in the main by the Power X‐Change battery platform, with which Einhell offers the most comprehensive battery system for ambitious DIYers and amateur gardeners on the market. All Power X-Change batteries can already be used in more than 250 DIY and garden tools. Cordless tools from Einhell consistently score top marks or emerge as test winners in independent consumer tests. “In 2023 we will be expanding the extremely successful Power X-Change battery platform significantly, increasing it to 450 products by the year 2027,” says Einhell CEO Andreas Kroiss.
About Einhell Germany AG
Einhell is the lifestyle battery power platform in the DIY and professional world. Einhell stands for maximum cordless excellence in the home, garden and leisure sectors. With one battery for more than 350 tools, Power X-Change ensures cordless freedom and complete flexibility. As an internationally successful company based in Landau/Isar (Bavaria), Einhell sets standards in terms of performance, endurance, quality and safety for all projects in the home, garden and leisure. The constantly growing ecosystem, powerful products and visionary ideas make Einhell a pioneer in the field of battery technology for all DIY enthusiasts and professionals.