Briggs & Stratton buys Brazilian company Branco
08 November 2012
Engine maker Briggs & Stratton Corp is to buy Brazilian power equipment manufacturer Companhia Caetano Branco for approximately US$60 million.
Branco is described by Briggs & Stratton as a leading brand in the Brazilian light power equipment market. Its products include petrol and diesel engines up to 22 hp, generators, pumps, cultivators and light construction equipment.
Founded in 1936, Branco employs 150 people in Brazil and has annual sales of around $40 million.
Todd Teske, chairman, president and CEO of Briggs & Stratton, said the acquisition was part of a strategy to strengthen its business in developing regions; “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”.
Denise Remor, CEO of Branco, said the deal represented a 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".
Briggs & Stratton Corp is based in Milwaukee, Wisconsin, US, is best known as a producer of petrol engines for outdoor power equipment. Its subsidiary, Briggs & Stratton Power Products Group, produces portable generators, pressure washers, and lawn and garden and turf care products.