Briggs & Stratton Buying Maker Of Light Towers
Fri, 08/15/2014 - 12:50pm
Engine maker Briggs & Stratton Corp. is acquiring a Nebraska company that makes towable light towers, industrial heaters and solar-powered arrow boards.
Milwaukee-based Briggs & Stratton said Thursday it agreed to pay $62 million for Almand Bros. Inc.
Almand Bros is based in Holdrege, Nebraska, and it generates sales of roughly $80 million annually.
The deal is expected to close within the next 30 days.
Briggs & Stratton CEO Todd Teske says this acquisition will expand the company's commercial line of products, which generate higher profit margins.