MTD COMPLETES TRANSACTION WITH ROBOMOW
Jul. 31, 2017
Source: MTD news release
Cleveland, Ohio - F. Robotics Acquisitions, the makers of Robomow, a leading brand of environmentally friendly, robotic residential lawn mowers sold mainly in Europe - is now a subsidiary of MTD Products.
The transaction, which closed as planned on July 2, 2017, will enable MTD to employ Robomow's progressive technology and broad line of robotic products under MTD's brands in Europe and North America; while Robomow will benefit from MTD's broader outdoor power equipment portfolio, sales and marketing resources, plus extensive global network of dealers.
Robotic technology for residential lawns has already taken hold in Europe, and the category is growing globally at an annual rate exceeding 15%. MTD is already the leader in robotics for golf course putting greens with the Cub Cadet RG3, and now with Robomow, the company further expands its portfolio of robotic offerings.
In Europe, North America and elsewhere in the world, MTD will be marketing the Robomow portfolio under MTD's Cub Cadet and WOLF-Garten brands, as well as its newly acquired Robomow brand.
Robomow's operations will remain headquartered in Pardesiya, Israel, and its present management team will continue to lead the organization toward rapid growth and innovation with support from MTD's European, North American and Asia-Pacific divisions.