Toromont Industries is expanding its farm equipment network in Manitoba.
The parent company of Toromont Cat has acquired Ag West Equipment Ltd, with its dealerships at Neepawa and Portage la Prairie, for $6 million, inclusive of acquired debt. The acquisition, which occurred on September 30th, was made public with the release of Toromont’s third quarter financial results today.
Managed by father/daughter pair Ross and Joella Tufford, Ag West served as a dealer for Agco’s equipment lines, including Massey, Gleaner and Hesston, as well as Versatile, Spra-coupe, Morris and other brands. The company was in business for over 20 years and had revenues of $19 million last year.
Toromont Cat owns existing agricultural equipment dealerships in Manitoba at Elie and Brandon, as well as a parts outlet at Winkler.
Toromont Industries’s Equipment Group has three main businesses: Toromont Cat — one of the world’s largest Caterpillar dealers, Battlefield Equipment – the Cat Rental Store, and Toromont Energy.
*Editor’s note: this story was revised to note the acquisition price as “inclusive of acquired debt.”