The Toro Company (NYSE:TTC) entered into an agreement to acquire Venture Products, Inc. from Steiner family for approximately $170 million on January 20, 2020. The consideration will be paid in cash, subject to certain adjustments. The acquisition includes real property used by Venture Products. The Toro Company expects to finance the transaction by borrowing under its existing unsecured revolving credit facility. For calendar year 2019, Venture Products generated net sales of approximately $100 million. The transaction is subject to regulatory approvals and other customary closing conditions. The transaction is expected to close before the end of The Toro Company’s fiscal 2020 second quarter.