Doosan Bobcat has announced its plan to acquire the Bob-Cat mower business from landscape equipment manufacturer Schiller Grounds Care.
In a deal worth an estimated US$82 million (€73.5 million), Doosan will also take ownership of the company’s Steiner and Ryan brands.
Scott Park, CEO and President of Doosan Bobcat, said, “Mower is a must-have product to enhance our product competitiveness in the ground maintenance industry. And the acquisition will serve as an opportunity to accelerate business expansion in North America.”
According to Doosan, 810,000 zero-turn mower units are sold in North America every year, generating $4.8 billion. The last five years has seen the market grow at an average annual rate of 7.8%.
Park said, “We will focus on our capabilities to maximize synergy with existing products by rapidly expanding our business to light equipment markets through new products and channels.”
The deal, which includes Mower’s products and sales network, is expected to be completed by the end of this year.