Toyota Industries Corp. (TICO), the parent company of one of the nation's largest lift truck manufacturers, will acquire Cascade Corp., an Oregon-based manufacturer of lift truck attachments, in a deal valued at $759 million.
Toyota manufactures lift trucks around the world, including at the Toyota Industrial Equipment Manufacturing Inc. facility based in Columbus, Ind. and at Raymond Corp. in Greene, N.Y.
Cascade, based in Fairview, Ore., manufactures material handling attachments and replacement parts for lift trucks and construction industries. The company has several plants in Ohio and other facilities in Georgia, Ontario, and Brazil.
Cascade will become a wholly owned subsidiary of TICO. Robert C. Warren, president and CEO of Cascade, will continue to lead the company. The companies expect the transaction will be completed by the end of the year.