Briggs & Stratton Makes Brazil Power Grab

US-based Briggs & Stratton has agreed to acquire Brazil’s Companhia Caetano Branco for about $60m, the outdoor power equipment and generator maker says. It will make the buy using cash and existing credit, and anticipates closing within three to four months. Branco’s annual sales are reported to be about $40m, and its operating margins from 13%-17%. Briggs & Stratton sees the move as part of geographic diversification and product portfolio expansion. Selling generators, water pumps and light construction equipment, Branco has about 150 employees in Brazil. The companies declined to comment on advisors or to elaborate on the terms of the sale.