September 7, 2023: Clarios is to acquire the auto batteries and BMS business unit of Germany-listed Paragon GmbH & Co KGaA for an undisclosed sum.
Clarios, the parent company of transportation battery brand VARTA Automotive, announced the deal on August 30
Clarios CEO Mark Wallace said: “The low-voltage network is critical to the new user experiences, data collection methods and power system transformation underway in vehicles.
“Paragon’s team has the skills, culture and commitment to add new capabilities that will accelerate our partnership with key OE customers, especially around advanced lithium ion programs.”