- Acquisition of the Mower business following the compact tractor launch accelerates entry into grounds maintenance industry
- Expecting Synergy from diversified products and new channels
On December 2, 2019, Doosan Bobcat Inc. announced the plan to acquire the Zero-turn-Mower business of the BOB-CAT, Steiner and Ryan brands from Schiller Grounds Care, Inc. The estimated purchase price is USD 82mil and transaction is expected to close by the end of year.
North America's ZTR market stands at approximately 810,000 units per year, $ 4.8 billion and has grown at an average annual growth rate of 7.8% over the past five years. Doosan Bobcat aims to settle early in the market based on its high brand awareness and dealer capabilities.
Doosan Bobcat secured ZTR Mower products and sales network at the same time and accelerated the expansion of grounds maintenance products with the recently launched Compact Tractor. This will help expand the dealer networks in the southern and western United States, where demand for both products is high, and to expand sales of existing products in the region.
“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.” said Scott Park, chief executive officer and president of Doosan Bobcat. “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”