Gardena denial

According to a report in the “Frankfurter Allgemeine Zeitung” and the “Lebensmittelzeitung”, Gardena AG of Ulm is up for sale. Both the Bosch Group and the Swedish Electrolux Group are apparently taking an interest in the garden equipment specialist. The annual sales of Gardena, which has been owned since 2002 by the Swedish investment group Industri Kapital, are currently in the order of € 393 mio. However, shortly before our editorial deadline a spokesman denied any plans to sell the company, stating that Industri Kapital had not yet decided whether and when any so-called “exit” should take place. The investor group was “not under any time pressure.” The daily “Die Welt” reports that a sale is on the cards, but not until next year.