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Home arrow News arrow Mergers and Acquisitions arrow Briggs & Stratton acquires Premier Power Equipments & Products, Coimbatore
Briggs & Stratton acquires Premier Power Equipments & Products, Coimbatore Print E-mail
Written by Krishna Kumar   
Tuesday, 15 November 2011
Coimbatore: Briggs & Stratton Corporation has acquired Coimbatore-based agricultural machinery manufacturer, Premier Power Equipments and Products Private Ltd for approximately $3 million in cash, subject to adjustments. Premier had a sales turnover of nearly $1 million last year.

Premier is a designer, manufacturer and marketer of tillers, weeders, harvesters, transplanters, pumps and portable generators used primarily in agricultural applications throughout India. In addition, Premier currently uses Briggs & Stratton engines on its products and distributes Briggs & Stratton engines in India. Its products are sold through a network of approximately 60 dealers in India.

The company has lined up substantial investments in the next five years for new product development and capital expansion.

"The acquisition of Premier is another step forward in executing our strategy to expand in developing regions of the world in order to diversify our products and geographic portfolio of business. Premier has the agricultural products and distribution that will serve as a platform for our future growth within India" said Todd Teske, Chairman, President and Chief Executive Officer of Briggs & Stratton Corporation.

Briggs & Stratton is financing the transaction from cash on hand. It expects that the acquisition will not have a material effect on earnings in fiscal 2012.

Briggs & Stratton Corporation, headquartered in Milwaukee, Wisconsin, is the world’s largest producer of gasoline engines for outdoor power equipment. Its wholly owned subsidiary Briggs & Stratton Power Products Group, LLC is North America’s number one manufacturer of portable generators and pressure washers, and is a leading designer, manufacturer and marketer of lawn and garden and turf care.

 
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