The Toro Company Acquires Intimidator Group
For Immediate Release
The Toro Company Acquires Intimidator Group
BATESVILLE,AR (January 14, 2022) – The Intimidator Group today announced its acquisitionby The Toro Company (NYSE: TTC), based in Bloomington, Minnesota. The Toro Company is a leading worldwide provider of innovative solutions in the outdoor environment including turf and landscape maintenance, snow and ice management,underground utility construction, rental and specialty construction, andirrigation and outdoor lighting solutions.
“It has been our honor along with a dedicated team of employees, dealers, and suppliers, to build since 2013 a significant company that has positively impacted many,” said Becky and Robert Foster, owners of The Intimidator Group. “Today, we are excited to announce that our company will graduate and move on to becomepart of The Toro Company which has a long-standing legacy of excellence with resources to fuel our future growth. The similarities our two companies share in our values and vision in the zero-turn mower industry will make for a very exciting future for our dealer network and each member of our Intimidator Group team, the city of Batesville, Independence County, and for the State of Arkansas.”
“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 M. Olson, chairman and chief executive officer of The Toro Company. “Spartan’s product lineup compliments 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 return long-term.”
Over the past year, Intimidator Group has experienced meaningful growth with net sales of approximately $200 million for calendar year 2021. Under the direction of owners Robert and Becky Foster, the Intimidator Group has created many brands of which include:
Spartan Mowers: a new company in the residential and commercial zero-turn mowerindustry, Spartan Mowers has become the fastest growing mower brand on the market.
Intimidator UTVs: delivering side-by-sides with unparalleled strength, power, andversatility, it is a growing brand in the off-road marketplace.
eNVy Neighborhood Vehicle: this vehicle features rugged durability with a smooth ride to create the perfect electric vehicle to fit a variety of needs.
Manufacturing and operations for the Intimidator Group will continue in the Batesville facilities.
Aboutthe Intimidator Group
The Intimidator Group is an Arkansas-based company founded in 2013. Focused on building greatness, the Intimidator Group family includes Spartan Mowers,Intimidator UTVs, eNVy Neighborhood Vehicles, Bad Dawg Accessories, Ground Hog Max, and Gourmet Guru Grill. For more information please visit, www.intimidatorgroup.com.
About TheToro Company
The Toro Company (NYSE: TTC) is a leading worldwide provider of innovative solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With sales of $4 billion in fiscal 2021, The Toro Company’s global presence extends to more than 125 countries through a family of brands that includesToro, Ditch Witch, Exmark, BOSS Snow plow, Ventrac, American Augers,Trencor, Pope, Subsite Electronics, Hammer Head, Radius HDD, Perrot, Hayter, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its family of brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. For more information, visit www.thetorocompany.com.