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 a leading manufacturer of state-of-the-art tools and equipment for the house and garden. From its headquarters in Landau/Isar (Bavaria), the internationally successful company has continuously expanded its innovative rechargeable battery platform Power X-Change and is now the market leader in the area of cordless tools and garden equipment. For many years Einhell has set new standards in terms of endurance, performance, and safety. Einhell customers appreciate the freedom of cordless operation for all their DIY projects, as well as the excellent value for money that Einhell products represent and the first-class customer service offered by the company.