# The Crosby Group to acquire KITO Corp.

The Crosby Group and KITO Corp. have entered into a definitive agreement for The Crosby Group to acquire all outstanding shares of KITO through a cash tender offer. The transaction is expected to close in the second half of 2022.

- Type: Acquisition
- Announced: 2022-07-14
- Where: Showa-cho, Japan, Japan
- Status: announced
- Products: rigging and lifting equipment, hoists
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Kito](https://endata.com/companies/29887.md) (target)
- [Crosby Group](https://endata.com/companies/39458.md) (acquirer)

## Sources

- [ivsinvestmentbanking.com](https://ivsinvestmentbanking.com/the-crosby-group-and-kito-corp-combine/), 2022-07-14: "The Crosby Group and KITO Corp., parent company of Harrington Hoists, have entered into a definitive agreement to combine both businesses."
- [wireropenews.com](https://wireropenews.com/the-crosby-group-and-kito-corporation-to-combine/), 2022-08-18: "The Crosby Group, a global leader in lifting and rigging, and KITO CORPORATION, a leading material handling manufacturer with 90 years of experience in the development and production of hoists and cranes, today announced that they have entered into a definitive agreement to combine both businesses."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.