Briggs and Stratton Corporation to Acquire Allmand Bros. Inc.

Towable light towers, industrial heater products, and flashing arrow boards provides diversification into higher margin, higher growth vertical industries and access to new distribution channels

MILWAUKEE, Aug. 14 -- Briggs and Stratton Corporation announced today that it has signed a definitive agreement to acquire U.S. based Allmand Bros., Inc. Founded in 1938 and based in Holdrege, Nebraska, Allmand is a leading designer and manufacturer of high quality towable light towers, industrial heaters, and solar LED arrow boards.

Allmand has sales of approximately $80 million annually. Briggs and Stratton will acquire all of the outstanding shares of Allmand for approximately $62 million in cash, subject to customary due diligence and working capital adjustments. The transaction is expected to close in the next 30 days.

"This acquisition helps us to further our strategic initiative of focusing on attractive higher margin, commercial end use products," commented Todd J. Teske, Chairman, President and Chief Executive Officer of Briggs and Stratton Corporation. Mr. Teske continued, "The acquisition of Allmand augments our higher margin commercial product portfolio, expands our market access to include the rental channel, and helps diversify our business into industry segments that we do not meaningfully participate in today.

In addition, we believe this acquisition will accelerate our sales growth in the U.S. and abroad. We look forward to welcoming the management team and the employees of Allmand to our team, and building upon the strong foundation that has made Allmand a highly successful company."

"For over 75 years, Allmand has been producing innovative products that make customer worksites brighter, warmer, safer, and more productive," commented Roger C. Allmand, Chairman of Allmand Bros., Inc. Mr. Allmand continued, "The combination of Allmand with Briggs and Stratton will provide even more opportunities for our people and our customers. With a proven track record of operating successfully for over 100 years, we believe that Briggs and Stratton will be able to accelerate our presence globally."

About Briggs and Stratton Corporation:

Briggs and Stratton Corporation, headquartered in Milwaukee, Wisconsin, is the world's largest producer of gasoline engines for outdoor power equipment. Its wholly owned subsidiaries include North America's number one marketer of portable generators and pressure washers, and it is a leading designer, manufacturer and marketer of lawn and garden and turf care through its Simplicity®, Snapper®, SnapperPro® Ferris®, Murray®, Branco® and Victa® brands. Briggs and Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents.

About Allmand Bros., Inc.

Allmand Bros., Inc is a leading designer and manufacturer of high quality towable light towers, industrial heaters, and solar LED arrow boards used in a variety of industries including construction, roadway, oil and gas, mining, and sporting and special events. The Company's products are generally powered by diesel engines, and distributed through national and regional equipment rental companies, equipment dealers and distributors. Allmand currently sells its products and service parts in approximately 40 countries.