secwatch.observer — SEC 8-K summary
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Issuer:     TORO CO (TTC)
CIK:        0000737758
Form:       8-K
Filed at:   2022-01-14T23:59:59+00:00
Accession:  0001140361-22-001679
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Toro acquires Intimidator Group (Spartan Mowers) for $400M
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- Purchase price $400M paid from cash on hand and short-term borrowings under revolving credit facility.
- Intimidator net sales ~$200M in calendar 2021; deal expected modestly accretive to FY2022 adjusted EPS.
- Spartan Mowers zero-turn mowers complement Exmark/Toro brands; expands Toro's position in zero-turn market.
- Intimidator also makes side-by-side utility vehicles; strong dealer network in southern U.S. rural markets.
- Toro to provide updated FY2022 guidance including Intimidator acquisition with fiscal Q1 results.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737758/000114036122001679/0001140361-22-001679-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737758/000114036122001679/brhc10032851_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-001679

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