Bosch Tools has recently completed the acquisition of the power tool accessories business of the Floyd Group, which is headquartered in Milan, Italy. This strategic move allows Bosch to enhance its range of power tool accessories, particularly the high-performance Freud brand. Freud is renowned for producing top-quality thin cut miter saw blades, circular saw blades, and routers. As part of the deal, Bosch also gains access to Diablo accessories. With the acquisition of Floyd, both brands can look forward to sharing cutting-edge technology. However, the specific purchase price remains confidential.
Floyd and Diablo Background
The Freud Group, a global supplier of circular saw blades, milling cutters, and woodworking knives, is the parent company of Floyd and Diablo. These brands cater to the needs of woodworking enthusiasts, professionals, and industrial users. Most of their products are manufactured in four sites located near the city of Udine in northeastern Italy. The Freud Group currently employs around 580 individuals worldwide and achieved EUR 100 million in sales for 2007.
Feedback on Bosch’s Acquisition of Floyd Accessories
Uwe Raschke, Member of the Board of Management and President of the Power Tools Division of Robert Bosch GmbH, expressed his enthusiasm about the acquisition. He described Freud as an innovative supplier of high-quality circular saw blades, routers, and knives for trade and industrial professional users. Raschke emphasized that Freud’s success, particularly in North America, perfectly complements Bosch’s business, both technically and regionally. With this acquisition, Bosch can further expand its operation while leveraging the extensive expertise and experience of Floyd’s colleagues and managers.
Gino Pozzo, Managing Director of Freud SpA, shared a similar sentiment. He believes that Bosch is the ideal partner for Floyd’s power tool accessories business. With Bosch’s support, the business can continue to flourish globally, especially in North America. Pozzo acknowledged that Floyd’s expertise and manufacturing capabilities will significantly strengthen Bosch’s position in this field.
Gianpaolo and Gino Pozzo, members of the Floyd Group’s founding family, have been appointed as advisors to the accessories business for the next three years. They will participate in various governing bodies and collaborate with Bosch to shape the company’s future.
Final Thoughts
The acquisition of Floyd by Bosch marks the fifth strategic acquisition made by the company this year to reinforce its power tools division. In January and July 2008, Bosch expanded its measuring tools business by acquiring RoboToolz, a specialist from China, and CST/berger, a US-based company. Recently, Bosch also acquired a portion of LR Nelson Corporation’s garden irrigation business in Peoria, USA, to bolster its garden irrigation product range. Additionally, the majority stake in Sia Abrasives, a Swiss manufacturer of flexible grinding systems, was obtained. The power tools, accessories, garden tools, and measuring technology division now employs approximately 16,000 people worldwide.