Zasso Group AG, a leading specialist in electric weeding solutions, announces that CNH Industrial N.V. has acquired a minority stake in its company.
Zasso™ also confirms the renewal of its Supply Agreement with CNH Industrial, and its extension worldwide.
CNH Industrial is a global leader in the capital goods sector, including tractors and agricultural machinery, with over US$ 28 billion in consolidated revenues and 63’000 employees in 2019.
With this transaction, Zasso™ is significantly increasing its distribution capability, further strengthening its R&D platform, and consolidating its intellectual property portfolio. Zasso is offering a viable substitute to glyphosate and other chemical herbicides, in a wide range of market segments, from Agriculture to Industrial Vegetation Management and Consumer Markets.
The entry as a minority shareholder of one of the most established industrial companies in the world is a vote of confidence on the quality and potential of our company. It provides legitimacy to Zasso’s electric weeding solution and family of products.Benjamin Ergas, Co-CEO Zasso Group AG
Zasso™ is determined to play a leading role in the transition towards an herbicide-free world. This partnership greatly furthers the path to achieve our vision. It also allows Zasso™ to maintain strategic, financial and operational independence.Sergio Coutinho, Co-CEO Zasso Group AG.
Zasso™ will further benefit from CNH Industrial’s continued roll-out of its AGXTEND innovation
platform, announced last November. AGXTEND™ is CNH Industrial’s leading platform for innovative technologies in the agricultural sector, and commercializes Zasso’s tractor-based electric weeding solutions under the XPOWER™ product name.