DexKo announced that it intends to expand the core business of AL-KO Vehicle Technology based in Kötz, Germany, through the takeover of Winterhoff Group based in Breckerfeld, North Rhine-Westphalia.
Both companies have agreed to this under a contract. With this acquisition, AL-KO is expanding its entire area of the product segments of jockey wheels, couplings and fittings.
Winterhoff previously supplied some of the jockey wheels sold by AL-KO Vehicle Technology in the past. With this takeover, AL-KO is increasing its own production depth and simultaneously optimizing its internal value-added and supply chains in the European market. The fittings sector will top off the AL-KO range. All partners and customers of Winterhoff will continue to be supported as in the past. The previous contacts will remain the same.
Said Harald Hiller, President of AL-KO Vehicle Technology, "Winterhoff has been a successful company for decades and is very well positioned in the market with its products. The strategic fit to AL-KO could not be better, because this integration will further strengthen our core business, which will allow us to service our customers with an even broader range. We will continue the brands of Winterhoff and ALBE Berndes in the existing form."
Rainer Winterhoff, Managing Director of the Winterhoff Group, explains: "This is the ideal time, also in light of the rapid globalization, to put our business on a promising path to a joint future with this merger. AL-KO Vehicle Technology is the perfect fit for this strategic move."
Said Fred Bentley, CEO of DexKo, “We are incredibly excited about the opportunity to add Winterhoff to our company. We have spent the first six months after acquiring AL-KO focusing on improving the business and the team has done an incredible job. We believe it is now time to aggressively grow our business. We believe by adding Winterhoff to our business we can meaningfully grow a strong brand by applying our significant resources to change the growth curve. It is the first of many moves we will be making and it is an exciting time to be part of the DexKo organization.”
The transaction is intended to take effect as of August 31, and is subject to approval of the antitrust authority.