Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through AGCO's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
9 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
AGCO agreed to purchase the remaining 50% of Laverda S.p.A. from Italian partner ARGO S.p.A., taking full ownership of the combine and harvesting-equipment operation it had previously held as a joint venture. The purchase price was approximately EUR 65 million and the deal was expected to close in December 2010.
AGCO entered into a purchase agreement to acquire the entire issued share capital of Sparex Holdings Limited and its subsidiaries from Rubicon Partners Industries LLP for approximately GBP 53 million. Sparex is a global distributor of replacement parts and accessories for agricultural tractors and machinery, and the transaction was expected to close in December 2010.
AGCO agreed on September 30, 2011 to acquire GSI Holdings Corp. for $940 million under an Agreement and Plan of Merger, buying the business from affiliates of Centerbridge Partners, and completed the purchase on December 1, 2011 for approximately $928 million net of cash acquired. Headquartered in Assumption, Illinois, GSI was a leading global manufacturer of grain storage and protein production systems with annual revenue of more than $700 million. approximately $928 million (net of cash; $940 million announced).
GSI is an excellent fit with AGCO and will allow us to extend our reach in the agricultural industry and provide our customers with an even wider range of products and services.
On April 17, 2015 AGCO acquired Farmer Automatic GmbH & Co. KG for approximately $17.9 million, net of cash acquired. Headquartered in Laer, Germany, Farmer Automatic manufactures and supplies poultry housing and related products, including egg-production cages. approximately $17.9 million.
AGCO agreed on June 29, 2016 to acquire all of the stock of Cimbria Holdings Limited from Silverfleet Capital and management sellers for approximately $340 million, and closed the deal on September 12, 2016 for DKK 2,234.9 million (about $337.5 million), net of cash acquired. Headquartered in Thisted, Denmark, Cimbria is a leading global manufacturer of equipment used for seed processing and post-harvest grain handling, with production facilities in Denmark, Austria, the Czech Republic and Italy. DKK 2,234.9 million (approximately $337.5 million).
On September 1, 2017 AGCO acquired Precision Planting LLC for approximately $198.1 million, net of cash acquired. Headquartered in Tremont, Illinois, Precision Planting is a leading manufacturer of high-tech planting equipment, and AGCO described the deal as an opportunity to expand its precision-farming technology offerings on a global basis. approximately $198.1 million.
The acquisition of Precision Planting provided us an opportunity to expand our precision farming technology offerings on a global basis.
On October 2, 2017 AGCO acquired the hay and forage division of the Lely Group for approximately EUR 80.5 million (about $95.0 million), net of cash acquired. The acquired business had manufacturing locations in northern Germany, and the deal allowed AGCO to expand its hay and forage product line. approximately $95.0 million (EUR 80.5 million).
On September 10, 2020 AGCO acquired 151 Research, Inc., a company specializing in agricultural technology, for approximately $2.8 million. AGCO also agreed to contingent consideration tied to performance targets, recording an additional liability of approximately $4.4 million; the acquisition was not material to the company. approximately $2.8 million (plus contingent consideration).
AGCO announced on September 28, 2023 a Sale and Contribution Agreement to form a precision-agriculture joint venture with Trimble Inc., and closed the transaction on April 1, 2024. Trimble contributed its OneAg agricultural business (excluding certain GNSS and guidance technologies), AGCO contributed its interest in JCA Industries (JCA Technologies), and AGCO paid Trimble $1.954 billion in cash (about $2 billion as announced). AGCO owns 85% of the venture, branded PTx Trimble, and Trimble owns 15%. $1.954 billion cash for an 85% interest ($2 billion announced).
This landmark transaction creates a JV that becomes the premier mixed-fleet Precision Ag business in the world and accelerates AGCO's strategic transformation.