The Toro Company to acquire Venture Products
Ventrac manufactures articulating turf, landscape, and snow and ice management equipment
The Toro Company has entered into an agreement to acquire privately held Venture Products, the manufacturer of Ventrac-branded products, for $167.5 million in cash, subject to certain adjustments. The Toro Company expects to finance the transaction by borrowing under its existing revolving credit facility.
Ventrac is a manufacturer of articulating turf, landscape, and snow and ice management equipment for the grounds, landscape contractor, golf, municipal and rural acreage markets. With a combination of power and maneuverability, Ventrac products are designed to enable the operator to use the equipment in a variety of settings with ease.
For calendar year 2019, Ventrac generated net sales of approximately $100 million.
The transaction is subject to regulatory approvals and other customary closing conditions, and is currently anticipated to close before the end of The Toro Company's fiscal 2020 second quarter.