Johnson Controls, a leading global supplier of automotive interior systems and electronics announced that the company has signed a purchase agreement with Putsch Holding to acquire Recaro automotive business.
The companies did not disclose terms of the sale, which is expected to close in the first half of 2011. Johnson Controls said the acquisition will strengthen its automotive seating business.
The acquisition will include around 4,750 employees globally in seven countries. Excluded from the transaction are Keiper’s operations in Brazil — Keiper do Brasil Ltda, based in São Paulo.
“This acquisition further strengthens our metal components and mechanisms business through the addition of the Keiper and Recaro brands which are synonymous with quality, technical expertise and innovation,” Beda Bolzenius, JCI’s president of Automotive Experience, said in a statement. “It provides leading technologies that we can leverage across our current seat component portfolio, and expand in China and North America.”