Briggs & Stratton Corporation Completes
Acquisition of Generator Manufacturer
MILWAUKEE, May 15 Briggs & Stratton Corporation
Briggs & Stratton announced today that it has completed its acquisition of
Generac Portable Products, Inc., a leading designer, manufacturer and marketer
of pressure washers and portable and standby generators.
The combined companies can now move forward to provide a more integrated
approach to design and marketing intended to create more product interest and
deliver greater value for the consumer.
The company anticipates continued expansion in household penetration for
pressure washers as more consumers become familiar with the benefits these
time saving, cleaning tools provide. In addition, increased awareness of
portable and standby generator product benefits should be timely as energy
concerns continue to develop through the summer in various parts of the United
States.
Generac Portable Products sells through national retail chains such as
Lowe's, Sears and The Home Depot. Products are sold under the GENERAC
PORTABLE PRODUCTS brand and other selected customer in-house brand names.
Briggs & Stratton Corporation is the world's largest producer of
air-cooled gasoline engines for outdoor power equipment. The company designs,
manufactures, markets and services these products for original equipment
manufactures worldwide.
This release contains certain forward-looking statements that involve
risks and uncertainties that could cause actual results to differ materially
from those projected in the forward-looking statements. The words
"anticipate," "believe," "estimate," "expect," "objective," and "think" or
similar expressions are intended to identify forward-looking statements. The
forward-looking statements are based on the Company's current views and
assumptions and involve risks and uncertainties that include, among other
things, anticipated sales; the effects of weather on the purchasing patterns
for generators; the seasonal nature of the generator and pressure washer
business; the speed and timing of the reduction of generator inventories
remaining from Y2K; domestic economic conditions, including housing starts and
changes in consumer disposable income; foreign economic conditions, including
currency rate fluctuations; and other factors that may be disclosed from time
to time in SEC filings or otherwise. Some or all of the factors may be beyond
the Company's control.
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