West Fargo, N.D. – Doosan Bobcat (S. Korea: KRX) announced plans to acquire the assets of the BOB-CAT Mowers, and the Steiner and Ryan brands of ground care equipment from Schiller Grounds Care. The transaction is expected to close by Dec. 31, 2019, subject to customary closing conditions and approvals.
Under the agreement, Doosan Bobcat will acquire the Johnson Creek, Wis., manufacturing facility, and the BOB-CAT Mowers, Steiner and Ryan brands of ground care equipment. The Schiller Grounds Care employees working at the Johnson Creek location, as well as the distributor and dealer direct field sales and technical support teams, will join the Doosan Bobcat team once the acquisition is finalized.
The purchase price of the assets of the BOB-CAT Mowers, Steiner and Ryan brands of ground care equipment from Schiller Grounds Care was not disclosed.
The acquisition follows two major announcements in November. Doosan Bobcat announced a $26 million dollar modernization and expansion of its Litchfield, Minn., production facility and the opening of its Global Collaboration Center in downtown Minneapolis.