Generac buys Vermont power equipment maker Country Home Products, Inc
Generac Holdings Inc. said Monday that it has purchased Country Home Products Inc., a Vermont manufacturer of outdoor power equipment, in a deal that closed Aug. 1. Country Home Products, Inc. includes Neuton Power Equipment and DR Power Equipment.
Waukesha County-based Generac, which manufactures power generators and other power equipment, did not disclose terms of the acquisition. The company said more details will be released with its second-quarter financial results Thursday.
Country Home Products, based in Vergennes, Vt., produces professional-grade engine-powered equipment for property maintenance applications. Its products are sold under the DR and Neuton brand names. It has more than 200 employees at its headquarters and two other facilities in Vermont.Aaron Jagdfeld, president and CEO of Generac (NYSE: GNRC), said the deal fits with the company’s strategy of diversifying its end markets with new products and services.
“This acquisition dramatically expands our chore-related products line-up and will provide additional scale to our residential engine-powered tools platform,” Jagdfeld said in a press release.
Country Home Products president Joe Perrotto said the deal opens up larger markets for DR, Neuton and Generac products in the U.S. and worldwide.
Country Home’s management team will continue to lead the company and the DR and Neuton brands will join Generac’s lineup.