ASTMA Bronze Partner Ventrac Australia has issued a statement following the recent announcement that The Toro Company Inc. is to acquire parent company Venture Products Inc (VPI), the manufacturer of Ventrac products.
Ventrac Australia wanted to update its customers on the latest position as to the purchase and the proposed activity post acquisition. While there is still an amount of negotiation to be completed, Ventrac Australia has been advised that the transaction will be completed within the next 2-3 weeks.
“As we are sure the industry is aware, this transaction came as a shock to all at Ventrac Australia,” the statement reads. “We have the distribution rights for all of the eastern seaboard of Australia for the Ventrac range, but we were concerned as to the implications on the business that we have established over the last five-and-a-half years.
“We have certainly been touched by the support from all our customers who have shown genuine concern for our business into the future. Our entire team have all set about meeting our clients’ demands and satisfying their immediate needs now that there has finally been rain and the grass is growing.
“Ventrac Australia has met with our VPI representatives in the United States, to try to understand the way forward. After these discussions the future direction became much clearer and tended to take away a lot of the negativity as a result of the purchase.
“As was stated by Rick Olsen, chief executive of Toro, there is no intention of moving any of the production out of the current facilities in Ohio and they intend to continue to build the Ventrac brand within those facilities. We understand that there is no intention to rebrand the Ventrac product range. We understand that Toro will operate Ventrac on a similar basis to the way they have marketed Exmark, Boss and Ditch Witch, (i.e.; leave it as it currently operates).
“At Ventrac Australia, we see this as an opportunity to further develop our relationships with existing customers and new customers alike, and expand our position. We have over the last five-and-a-half years grown a product that had no product awareness to one where we have hundreds of machines and over 600 attachments in the field. Ventrac Australia has invested an enormous amount of resources in developing this market and see it is time for us to expand the product.
“We know Toro and VPI are both very aware of our standing in the market and we are confident that we will continue to provide the best possible service for the best possible machine. We at Ventrac Australia will continue business as usual and we intend to increase our efforts throughout the eastern states to maximise what we have established.
“We believe the unique Ventrac product, with its versatility, safety and quality will continue to be great asset to the Toro Company.”