For more than two decades, Ventrac has been synonymous with mowing severely sloped areas where other mechanized equipment could not go. The Toro Company will acquire privately held Venture Products Inc., maker of Ventrac-branded products.
Toro will purchase Venture Products for $167.5 million in cash. The transaction is subject to regulatory approval and is expected to close before the end of Toro's second fiscal quarter.
"The Toro Company is committed to a culture that aligns with our employee values, has a rich history of success in the marketplace, and a proven track record of growing their brands," said Dallas Steiner, chief executive officer of Venture Products in a joint news release. "By joining with The Toro Company, it allows us to continue to serve our customers with authentic experiences and trusted products."
Started in 1996 by Marvin Steiner, Venture Products is a maker of professional articulating turf, landscape and snow and ice management equipment for the golf, grounds, landscape contractor, municipal and rural acreage markets located in Orrville, Ohio, home of Smucker's jams and jellies.
With a combination of power and maneuverability, Ventrac products are designed to enable the operator to use the equipment in a variety of settings with ease. Despite that power and maneuverability, Ventrac machines are known for their light footprint in soft turf conditions and their versatility with multi-season attachments for a variety of applications. Ventrac generated net sales of approximately $100 million in 2019.
"Ventrac is well recognized in the industry for its market-leading innovation and commitment to meeting the diverse needs of customers," said Richard M. Olson, Toro's chairman and chief executive officer.