Bosch makes largest acquisition in the company's history

Bosch announces the largest acquisition in its history: For its Energy and Building Technology business sector, the Group plans to acquire the global heating, ventilation and air conditioning solutions business for residential and small commercial buildings from Johnson Controls, the Group reported at a press conference yesterday. The acquisition is subject to regulatory approvals. The purchase price for the acquired businesses is USD 8 bn (EUR 7.4 bn).

"As the largest acquisition in Bosch's corporate history, this is an important milestone in the consistent implementation of our Strategy 2030", explained Stefan Hartung, Chairman of the Board of Management of Robert Bosch GmbH. The main aim is to strengthen the company's presence in the USA and Asia.

According to the company, the businesses that Bosch intends to acquire, together with the included joint venture JCH (Johnson Controls-Hitachi Air Conditioning), generated total sales of around EUR 4 bn in the 2023 financial year and employ around 12,000 associates worldwide. The transaction includes 16 production sites and twelve development sites in more than 30 countries.

Christian Fischer, Deputy Chairman of the Board of Management, responsible for the Bosch Group's strategic growth initiatives, added: "Bosch will almost double its sales in the heating, ventilation and air-conditioning market to around 9 billion euros." The company expects the global market in this sector, including the heat pump business, to grow by 40 per cent by 2030.

Bosch intends to integrate the acquired businesses into the Home Comfort Group. The existing Bosch Home Comfort Group generated sales of around EUR 5 bn in the 2023 financial year with 14,600 associates.