MILWAUKEE, Aug. 29, 2014 /PRNewswire/ -- Briggs & Stratton Corporation (NYSE:BGG) announced today that it has acquired U.S. based Allmand Bros., Inc. for a total consideration of approximately $62 million in cash for all outstanding shares of Allmand, net of acquired cash. Briggs & Stratton financed the transaction from cash on hand.
Founded in 1938 and based in Holdrege, Nebraska, Allmand is a leading designer and manufacturer of high quality towable light towers, industrial heaters, and solar LED arrow boards. Allmand has sales of approximately $80 million.
About Briggs & Stratton Corporation:
Briggs & Stratton Corporation, headquartered in Milwaukee, Wisconsin, is the world's largest producer of gasoline engines for outdoor power equipment. Its wholly owned subsidiaries include North America's number one marketer of portable generators and pressure washers, and it is a leading designer, manufacturer and marketer of lawn and garden and turf care through its Simplicity®, Snapper®, SnapperPro® Ferris®, Murray®, Branco® and Victa® brands. Briggs & Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents. For additional information, please visit www.basco.com and www.briggsandstratton.com.
SOURCE Briggs & Stratton Corporation