AGCO Corporation acquired GSI Holdings Corp. for approximately $928 million (net of cash; $940 million announced).
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.
GSI pushed AGCO beyond machinery into the grain infrastructure value chain, adding grain storage, conditioning and protein-production systems that positioned the company to benefit from rising global grain and food demand.
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.
Advisory firms were not disclosed for this transaction.