The Toro Company Announces Sale of Trencor Brand and Auger Boring Category Under the American Augers Brand

Strategic actions aimed at supporting future growth in core segments, driving operational efficiencies, and building a leadership position in the underground construction industry

BLOOMINGTON, Minn.--(BUSINESS WIRE)-- The Toro Company (NYSE: TTC), a leading global provider of solutions for the outdoor environment, today announced the sale of its Trencor equipment brand and the auger boring product category, a subset of the American Augers brand. Terms of the transactions were not disclosed.

With the divesture of the auger boring product category, The Toro Company will continue to manufacture American Augers’ line of underground equipment including large horizontal directional drills, pumps and fluid cleaning systems at its West Salem, Ohio, location. The divesture of Trencor includes assets specific to the full line of large-track trenchers and mining equipment.

“Today’s announcement within our construction portfolio places additional focus on the core underground categories that will provide the greatest growth opportunity and best position our business for future success,” said Peter Moeller, group vice president, Construction Businesses at The Toro Company. “Supported by demand in the pipeline, water and energy transmission sectors, we are excited about the near and long-term prospects for our underground construction business and our ability to deliver cutting-edge solutions to meet the needs of our customers.”

These transactions represent The Toro Company’s commitment to disciplined portfolio management and prudent capital allocation strategies. It also represents an opportunity for The Toro Company to remain competitive in its core underground construction markets with a focus on efficiency improvements and synergy gains. Revenue for each business component have historically been included in the company’s professional segment results.

Trencor and American Augers became part of The Toro Company through the acquisition of Charles Machine Works in 2019, which includes Ditch Witch and other leading underground construction brands.

About The Toro Company
The Toro Company (NYSE: TTC) is a leading worldwide provider of innovative solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With net sales of $4.6 billion in fiscal 2024, The Toro Company’s global presence extends to more than 125 countries through a portfolio of brands that includes Toro, Ditch Witch, Exmark, Spartan, BOSS, Ventrac, American Augers, Subsite, HammerHead, Radius, Perrot, Hayter, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. For more information, visit www.thetorocompany.com.

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Investor Relations

Jeremy Steffan

Director, Investor Relations

(952) 887-7962, jeremy.steffan@toro.com

Media Relations

Branden Happel

Senior Manager, Public Relations

(952) 887-8930, branden.happel@toro.com

Source: The Toro Company