AGCO Corporation acquired Lely Group forage division for approximately $95.0 million (EUR 80.5 million).
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.
Adding Lely's forage-harvesting products deepened AGCO's core equipment breadth in hay and forage, an adjacent category to its tractor and harvesting franchises.
Advisory firms were not disclosed for this transaction.