Toro Plans to Invest $50M in Intimidator Group: Report
The Toro Company plans to invest roughly $50 million in Intimidator Group of Batesville and double the company’s business within the next five years or so, company officials told Arkansas Business after a hosted event at Intimidator’s plant.
Toro bought Intimidator Group, the manufacturer of Spartan Mowers, in a $400 million deal in January 2022, and celebrated that deal with fanfare at the event which was attended by Arkansas Governor Asa Hutchinson.
“As we look to the future of the Intimidator Group as part of The Toro Company, we see opportunity,” Toro chairman and founder Rick Olson said during his comments.
He said Toro is looking to leverage technologies and resources across its businesses to further innovation and provide products that better customer lives, expand product lines, reach new markets, further invest in Intimidator’s Batesville facility and help Intimidator’s employees grow.
Olson told Arkansas Business after the event that the deal took just six months. He also said Toro’s planned technology investments are mainly in three areas: alternative (i.e. electric) power for its products; smart, connected products; and robotic or autonomous products.
This information first appeared in, and is courtesy of, Arkansas Business. For the complete Arkansas Business story, by Sarah Campbell-Miller, click here.
INTIMIDATOR GROUP
https://intimidatorgroup.com/
THE TORO COMPANY
www.thetorocompany.com
