In 1982, Wheel Horse was spun off from AMC to Munn Investment Group. During this time, some cosmetic changes were made, but frame and attachment design remained the same. In mid-August 1986, Wheel Horse was sold off from Munn and purchased for $8 million by Toro. Tractors were built under the Toro banner for the next two decades. Under their new owner, economically priced Wheel Horse tractors shared the same pressed-steel frames, attachments, and other parts used in bargain-built Toro family equipment. In fact, even larger garden and compact tractors were "cookie cutter" units identical in construction to New Holland models built under contract by Toro. The Wheel Horse name was eliminated from production after 2007.