Canadian Manufacturing

Magna to acquire BOCO Group

BOCO has annual sales of more than $148 million and employs 450 people at operations in Germany and China; Magna did not disclose the deal's price tag

September 26, 2016  by The Canadian Press

Magna said earlier this year it expects to close the deal by the end of 2015.

Magna has strung together several strategic acquisitions over the last several years.

AURORA, Ont.—Magna International Inc. will increase its capacity to make automotive latches, hinges and other closure components through the purchase of the BOCO Group of Companies, in a transaction announced Monday.

The Ontario-based auto parts company didn’t disclose the purchase price but said BOCO has annual sales of more than $148 million and employs 450 people at operations in Germany and China.

The deal is expected to close in the third quarter of 2016.

Magna has 309 manufacturing operations and 99 product development, engineering and sales centres in 29 countries. In total, it employs more than 152,000 people.

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