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Issue link: https://read.dmtmag.com/i/98625
INDUSTRY NEWS Briggs & Stratton to buy Brazilian company Briggs & Stratton Corporation announced Nov. 6 that it signed a definitive agreement to acquire Companhia Caetano Branco, of Brazil ("Branco") for approximately $60 million, subject to postclosing adjustments. Founded in 1936, Branco is a leading brand in the Brazilian light power equipment market with a broad range of outdoor power equipment used primarily in light commercial applications in Brazil. Its products, which include generators, water pumps, and light construction equipment, are sold through its independent network of more than 1,200 dealers throughout Brazil. Branco employs approximately 150 people in Brazil. Briggs & Stratton anticipates financing the transaction from cash on hand and/ or its existing credit facilities. Branco has annual sales of approximately $40 million with operating margins ranging from approximately 13 to 17 percent across its various product lines. Completion of the transaction is subject to conditions customarily associated with a transaction of this type. The transaction is targeted for closing within three to four months. "This acquisition brings two great companies with incredible brand strength together," said Todd Teske, chairman, president and CEO of Briggs & Stratton Corporation. "It is also another step in executing our strategy to expand in developing regions of the world in order to expand our product portfolio in highermargin categories and to diversify our geographic footprint." Branco CEO Denise Remor said, "This is a very positive outcome for Branco customers and Briggs & Stratton. The Branco business is a leading brand in Brazilian light power equipment with a very strong distribution network in Brazil. Its brand strength and current operational performance can only add to the strength of a company like Briggs & Stratton." Teske added, "We view this acquisition very positively for Briggs & Stratton and for all of the stakeholders in each entity — employees, customers and shareholders. With Branco's brand strength, employees and customer base, we will have an established, well-performing company located in a country that has aggressive infrastructure needs and a history of higher growth opportunities, which can only add to the strength of our company." Scag Power Equipment acquires Giant-Vac Scag Power Equipment and its parent company, Metalcraft of Mayville Inc., announced the acquisition of Giant-Vac on Nov. 6. The acquisition of Giant-Vac assets was completed by Metalcraft on Nov. 5. "This acquisition joins two great names and traditions in the power equipment industry," said John Crowson, president of Scag Power Equipment. "Giant-Vac has led in innovation in debris-handling equipment since 1966, and Scag has been widely recognized as a leader in commercial mowers for more than 30 years. This combination will greatly expand our offering of high-quality, high-value products. "We look forward to applying the manufacturing strength of Metalcraft and the marketing and engineering capabilities of Scag to the Giant-Vac line of debris products." Scag Power Equipment, a division of Metalcraft of Mayville Inc., is one of the largest independent manufacturers of commercial mowing equipment in the United States. Metalcraft of Mayville Inc., an ISO 9001:2008 registered company, manufactures products in two facilities in Mayville and West Bend, Wis. 10 Southland Engine Company Inc., Lafayette, La., received Ariens Company's 2012 Chairman's Award for highest sales volume (all products) and multiple sales category awards. Pictured from left are Dan Ariens, president and CEO, Ariens Company; Lynn Pesson Jr., president, Southland Engine; Glenda Pesson, vice president, Southland Engine; Peter Ariens, president, Stens Corporation; and Jeff Hebbard, president – Ariens Wholegoods, Ariens Company. Ariens Company recognizes top dealers and suppliers Ariens Company, manufacturer of Ariens and Gravely outdoor power equipment, announced Nov. 7 that it presented its 2012 dealer and supplier awards during its Annual Dealer Summit Sept. 27-29 in Savannah, Ga. With 300 of the top Ariens and Gravely dealers from North America in attendance, the Ariens Company recognized its top OUTDOOR POWER EQUIPMENT dealers for top sales volume, highest sales growth by region, and exemplifying Ariens Management Principles. In addition, Ariens Company recognized its top suppliers. The top dealers by sales volume were as follows: • Chairman's Award (highest volume – all products): Southland Engine Company Inc., Lafayette, La. Continued on page 12 www.outdoorpowerequipment.com