The Toro Company acquired Venture Products, Inc. (Ventrac) for $163.2 million (aggregate merger consideration; ~$165.9 million preliminary), a transaction completed in March 2020, structured as all cash (with a $29.5 million holdback) plus a related real-estate purchase. The deal was a Merger.
Venture Products, Inc. (Ventrac) operates in Professional, is based in Orrville, Ohio, United States. Under agreements dated January 20, 2020, Toro completed its acquisition of privately held Venture Products, Inc. of Orrville, Ohio on March 2, 2020, structured as a merger with a Toro subsidiary; a related agreement purchased the real estate used by the business. Preliminary consideration was $165.9 million (including a $29.5 million indemnity holdback), finalized at an aggregate $163.2 million after customary adjustments. Venture Products makes Ventrac-branded articulating turf, landscape and snow-and-ice equipment — including the 4500 all-wheel-drive articulating tractor with 30-plus attachments — for grounds, landscape-contractor, golf, municipal and rural-acreage customers.
Ventrac broadened and strengthened Toro's Professional segment and expanded its dealer network, adding differentiated articulating equipment for sports-fields, grounds and sidewalk snow-and-ice applications.
Professional segment (Ventrac brand)
Advisory firms were not disclosed for this transaction.