The Toro Company Announces the Sale of its Australia-Based Residential Pope Products Business
Reinforces focus on strategic priorities that provide the greatest profitable growth opportunities
This transaction represents The Toro Company’s commitment to disciplined portfolio management and prudent capital allocation strategies. The transaction also represents an opportunity for Toro Australia to enhance its focus on the best opportunities to drive long-term profitable growth in the golf, sports fields and grounds, professional contractor, rental and residential markets. The financial results related to the Pope Products business have historically been included in the company’s residential segment results. The impact of this divestiture is immaterial to the company’s fiscal 2024 financial results and was already considered in the previously shared outlook for the third quarter and full-year.
About Toro Australia and Pope Products
Toro Australia, a subsidiary of The Toro Company, is a provider of innovative outdoor solutions for the golf, sports fields and grounds, landscape contractor, construction, residential and agricultural markets across
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
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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