PORTLAND, Ore., Aug. 8, 2011 -- Blount International, Inc., a leader in the design, manufacturing, and marketing of replacement parts and equipment for consumers and professionals in select global end markets, including forestry, lawn, and garden; farm, ranch, and agriculture; and concrete cutting and finishing, today announced the acquisition of FinalameSA and its wholly-owned subsidiary, PBL SAS ("PBL").
PBL is a leading manufacturer of lawnmower blades and agricultural cutting parts based in Civray, France and Queretaro, Mexico.
Blount purchased all of the equity of PBL for approximately $14 million in cash and assumed approximately $14 million in debt, net of cash acquired.
"Blount's acquisition of PBL provides needed lawnmower blade capacity and establishes a presence in the European agriculture market," stated Josh Collins, Blount's Chairman and Chief Executive Officer. "Additionally, Blount will benefit from PBL's cost-efficient manufacturing process at its France and Mexico facilities."
In the twelve months ended July 31, 2011, PBL's revenue was approximately $33.2 million, using monthly average exchange rates.
