A subsidiary of Cleveland-based MTD Products is set to merge with a leading maker of environmentally friendly, robotic residential lawn mowers sold mainly in Europe, enabling opportunities to employ this progressive technology under MTD’s brands in Europe and North America.
MTD’s subsidiary has entered into a merger agreement with F. Robotics Acquisitions Ltd — makers of the Robomow — that is expected to close around July 2, pending governmental and other approvals. The transaction will combine Robomow’s industry-leading technology and award-winning robotic lawn mowers with MTD’s broader outdoor power equipment portfolio and extensive global network of dealers.
“Both MTD and Robomow see tremendous opportunities to grow our brands through this merger of our products and talents,” said Rob Moll, CEO, MTD Products. “Initially, we will be looking to market Robomow technology under our Cub Cadet and WOLFGarten brands. At the same time, we expect the Robomow brand to profit from MTD’s global reach and presence.”