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The Toro Company to Acquire The Charles Machine Works, Inc.

BLOOMINGTON, Minn. (February 15, 2019) – The Toro Company (NYSE: TTC) today announced that it has entered into a definitive agreement to acquire privately-held The Charles Machine Works, Inc., an Oklahoma corporation and the parent company of Ditch Witch and several other leading brands in the underground construction market, for $700 million in cash subject to certain adjustments set forth in the definitive agreement.

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