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06-09-2008, 08:46 AM
| #1 |
| Senior Member Join Date: May 2007
Posts: 2,081
| Victa, mowed down. Another Aussie icon sold overseas.  Aussie icon Victa sold to US | NEWS.com.au Business AUSTRALIAN icon Victa has been sold to US-based Briggs & Stratton for about $23 million. Victa has been the leading Australasian manufacturer and marketer of lawnmowers since 1952. Its owner GUD, which also owns the Sunbeam electrical appliance brand, said Victa had sold more than seven million lawnmowers in its 66-year history. Briggs & Stratton had been a long-standing supplier of four-stroke engines to Victa. "The business has withstood the challenge posed by the emergence of Chinese small engine manufacturers moving downstream into lawnmowers,'' GUD chief executive Ian Campbell said. "Under Briggs & Stratton ownership, Victa should remain competitive over the long-term and sustain its profitability. Mr Campbell said Victa had been restructured over the last two years and was benefiting from lower cost components. Earlier Aussie sell-offs incude: Vegemite - sold to Kraft (US) in 1926 Aeroplane Jelly - sold to McCormick Foods Australia (US) in 1995 Arnott's - sold to Campbell Soup Co. (US) in 1997 Myer - sold to Newbridge Capital in 2006 Tooheys - sold to Kirin (Japan) OPSM - sold to Luxottica (Italy) in 2003 Sorbent - sold to Carter Holt Harvey (NZ) in 1995 |
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06-09-2008, 09:38 AM
| #2 |
| The Pop-Tart Whisperer   Join Date: Feb 2007 Location: South Jersey, United States
Posts: 10,228
| They probably saw the future with gasoline prices.
__________________  "If you can read this, thank a teacher. If it's English, thank a soldier!" http://www.njcacoa.org/ |
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06-09-2008, 10:47 AM
| #3 | |
| Senior Member  Join Date: Nov 2007 Location: Escondido,Ca
Posts: 2,206
| Quote:
__________________  Dont shoot him...... It will just make him angry. | |
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06-09-2008, 06:59 PM
| #4 |
| Senior Member  Join Date: Oct 2006 Location: Adelaide Sth. Aust.
Posts: 12,487
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06-10-2008, 02:53 AM
| #5 |
| Senior Member  Join Date: Apr 2005 Location: Queensland
Posts: 4,543
| Does 23 million seem too cheap to anyone else?
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06-10-2008, 04:35 AM
| #6 |
| Senior Member  Join Date: Nov 2006 Location: Queensland, Australia
Posts: 3,552
 | yeah, especially for a company like victa.
__________________  "Success is nothing more than taking advantage of an opportunity." - Hitman! - The Technical Guide for the Independent Contractor. |
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06-10-2008, 04:42 AM
| #7 | ||
| Senior Member Join Date: May 2007
Posts: 2,081
| Quote:
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