Agco, a worldwide manufacturer and distributor of agricultural equipment, announced that it has agreed to acquire Cimbria Holdings Ltd for approximately US$340 million from Silverfleet Capital. Source: AFDJ eNews
Cimbria, based in Thisted, Denmark, is a leading manufacturer of products and solutions for the processing, handling and storage of seed and grain.
The transaction is subject to regulatory approval and is expected to close in the third quarter of 2016.
Cimbria’s extensive products and services support the cleaning, drying, storage and conveyance of grain and seed through the development, manufacture and installation of individual machines, customized systems and complete turnkey plants, as well as project management and process control consulting.
Cimbria sales, which are expected to reach approximately US$240 million in fiscal 2016, are concentrated in Western Europe with growing exposure to Eastern Europe, Africa and the Middle East.