This is probably not what you're thinking but Black and Decker make a combination leaf blower and mulcher. I don't think it mulches very well, but the leaves I wanted to mulch are probably smaller than most people want to mulch.

We have a Toro electric leaf vac/ blower that captures the mulched leaves in a big cloth bag. It actually chops the oak leaves better than the mower and we distribute the chopped leaves where we want to mulch. This isn't what you are describing. Maybe you are looking for a chipper attachment?

I want to be able to "shoot" the leaves back out into a specific area. Kind of like some landscapers can "blow" mulch from their truck using a big attachment into planting beds rather than haul it in by truck or wheelbarrow.