MTD Completes Transaction With Robomow®, Making One Company With More Robotics Technology And Greater Distribution Worldwide
CLEVELAND, July 18, 2017 /PRNewswire/ -- F. Robotics Acquisitions Ltd, 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 Inc.
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.
About MTD
MTD Products Inc is a worldwide leader in outdoor power equipment with manufacturing facilities in North America, Europe and Asia, and distribution around the globe. MTD manufactures and distributes equipment such as mowers, snow throwers, trimmers, chain saws, utility vehicles and hand tools for both residential and professional lawn and landscape markets. Founded 85 years ago and headquartered in Valley City, Ohio, MTD's engineering expertise and state-of-the-art facilities are known for innovation and award-winning products for brands including Cub Cadet, WOLF-Garten, Troy-Bilt, Rover and Remington among others. MTD has earned a reputation around the world for excellence in quality, customer service and value; and, seeks to passionately create, build and deliver great products and services that consumers all over the world enjoy using to improve and beautify lawns and gardens. To learn more, visit www.mtdproducts.com.
F. Robotics Acquisitions Ltd, now part of MTD, designs, manufactures and distributes a complete line of Robomow brand robotic lawn mowers in markets around the globe. The company, started in 1995, is a leading manufacturer and marketer focusing exclusively on robotic lawn mowers. Robomow's state-of-the-art and award-winning mowers are built employing a wide portfolio of unique and proprietary technologies developed over the course of more than two decades. Robomow's products are all inspired by the desire to make life easier and more enjoyable. To learn more, visit www.robomow.com.
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SOURCE MTD Products Inc
