The Kubota Corporation has announced its goal to acquire and merge the lawn-mower business division of Italian manufacturer Officine BIEFFEEBI (BFB) and its subsidiary Gianni Ferrari (GF); to create the wholly-owned Kubota Holdings subsidiary, Kubota Gianni Ferrari S.R.L.
This new subsidiary will grow Kubota’s range of groundcare products that are aimed at park and stadium sector professionals, as well as landscaping roles for individual customers. With the integration of BFB and GF’s sales, production and development processes, and their large European market shares in centre collect front mowers, Kubota Holdings Europe will be accelerating its groundcare business expansion across Europe.
The transaction closure is subject to the completion of the condition precedents, including the obtainment of the Golden Power clearance – a power held by the Italian government to limit or stop foreign direct investments and corporate transactions involving Italian strategic assets.