The Toro Co. has acquired privately-held Intimidator Group, a designer and manufacturer of Spartan Mowers.
The firm’s line of Spartan Mowers, along with its line of side-by-side utility vehicles, have strong brand recognition in the southern United States, and a large appeal to rural markets and large acreage customers. For calendar year 2021, Intimidator Group net sales were approximately $200 million. Toro expects to provide updated full-year guidance that includes the acquisition of Intimidator Group when it reports its fiscal 2022 first quarter results.
“The addition of Spartan Mowers to our portfolio strategically positions us to be an even stronger player in the large and rapidly growing zero-turn mower market,” said Richard Olson, chairman and chief executive officer of The Toro Company. “Spartan’s product lineup complements our innovative Exmark and Toro branded equipment and provides unique opportunities to further leverage technology and design, procurement and manufacturing efficiencies. We are confident the combined efforts of our teams will help advance our strategic priorities while providing unparalleled products, technologies and service to our customers. This move also reinforces our commitment to disciplined capital deployment, including prudent investments in our business, strategic acquisitions, dividend growth and share repurchases, all of which position us to deliver compelling shareholder returns long-term.”