The Car Lock segment, which has its headquarters in Tyniste, Czech Republic, employs 450 people and has operations in Mexico, Germany, Switzerland and China. It had a turnover of EUR60m (US$65.8m) in 2015.
Alpha is headquartered in Yokohama, Japan and employs more than 4,250 people. The acquisition will expand its global footprint to a total of 19 sites across 11 countries.
“I find it satisfying in Alpha, the Car Lock business gets a committed long-term owner that gives the business a new strategic home and creates opportunities for a continued good development,” said Assa Abloy president and CEO, Johan Molin.
The transaction is subject to regulatory approval and is expected to close during the second quarter of this year.