Textron Inc. (NYSE: TXT) announced that the Jacobsen business unit has sold its commercial grounds care product lines to Commercial Grounds Care Inc., an affiliate of Schiller-Pfeiffer Inc., located in Southampton, Penn.
The sale includes the Jacobsen’s manufacturing facility in Johnson Creek, Wisconsin, a leased service parts facility in Dalton, Ohio and products branded BOB-CAT, Bunton, Ryan, Steiner and Brouwer. The transaction closed on Aug. 18 with undisclosed terms.
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The sale of the commercial grounds care product lines allows Jacobsen to heighten the focus on its golf and professional turf-related markets with equipment manufactured in Charlotte, North Carolina and Ipswich, England. It also advances Textron’s portfolio strategy, which has included significant divestitures of non-core manufacturing businesses representing more than $4.4 billion in annual revenues and the elimination of $1.4 billion in non-core finance receivables from its Textron Financial unit during the past five years.
“Jacobsen has made a strategic decision to focus on its professional turf business which includes golf course, sports turf and municipal grounds equipment,” says Dan Wilkinson, president, Jacobsen, a Textron Company. “Although the commercial grounds care division offers strong brand names and an excellent facility in Johnson Creek, it is not consistent with Jacobsen’s long-term growth strategy.”
Jacobsen’s Commercial Grounds Care product lines are developed and manufactured by 160 employees and are sold through an independent distribution network of outdoor power equipment distributors and dealers.
