Briggs & Stratton is selling its Australasia division. Street Talk understands the American manufacturer of gasoline engines is seeking to exit the region, carving out its Briggs & Stratton Australasia division in a sale led by 333 Capital.
Its prize asset is heritage garden power tool brand Victa which makes things like petrol-powered walk-behind mowers, blowers and chainsaws and accounts for 43 per cent of its net sales. The Victa lawnmower has become one of Australia’s best-known household names after it was first produced in Sydney in 1952.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
