Hitachi Koki Co., the company that makes Hitachi power tools (among other things), has fully acquired 100% ownership of Metabo and all that they do.
Is your mouth gaping at this news? Because mine sure is.
There aren’t many details worth repeating, as you can read the full nitty gritty in Hitachi’s press release. I also received a metabo press release, through an unofficial source, and although it says that Hitachi took over Metabo, the agreement seems to be more of a partnership.
The deal isn’t finalized, as antitrust authorities still need approve the acquisition.
In 2014, Hitachi generated more than EUR 1 billion in revenue, and Metabo EUR 374 million. At the time of this posting. 1 EUR = $1.07 USD.
In one of last month’s misc. tool news posts, I wrote how my first experiences with Metabo tools are changing everything I thought I knew about the brand.
Let’s also not forget that Hitachi and Lowes announced an exclusive partnership earlier this year.
A reader recently emailed in with news that his brother found Metabo tools stocked at a Virginia Lowes location (thanks, Drew!). That is probably a random or isolated occurrence, but can you imagine what Hitachi’s ownership of Metabo will mean when you take into account their distribution and in-store promotion arrangement with Lowes?
Only time will tell what comes from this acquisition, but for now, the wheels of change have been set in motion. I for one am thrilled at the prospects.