Toro Co Acquires Lawnmower Manufacturer Intimidator Group for USD 400m.
MANews-(C)2009-2022
Minnesota, US-based Toro Company (NYSE: TTC), a supplier of lawn mowers, snow blowers, and irrigation system supplies, has acquired Arkansas-based Intimidator Group, a manufacturer of Spartan Mowers, to expand position in zero-turn mower markets, the company said.
Toro acquired Intimidator Group for USD 400m, paid with a combination of cash on hand and short-term borrowings under the company's existing revolving credit facility.
The transaction has already received customary regulatory approvals. The Toro company expects this acquisition to be modestly accretive to...
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