New Holland plans to add tillage equipment to its product lineup after signing a deal to purchase Kongskilde Industries’ tillage and forage equipment business.
The Danish company manufactures and sells farm equipment under several brands, including Kongskilde, Överum and JF.
“The acquisition of the tillage and hay and forage activities of Kongskilde adds a key product range that will further broaden New Holland Agriculture’s product offering within the agricultural machinery sector,” said Carlo Lambro, brand president of New Holland Agriculture, in a news release.
“In the meantime the Kongskilde dealer and importer network will remain the reference point for their customers. This agreement will provide growth opportunities and create a strong platform to develop the Kongskilde business and its brands and we will also gradually integrate their products in the New Holland portfolio,” he continued.
The deal includes manufacturing facilities in Poland, Sweden and a lease contract for production in Hudson, Illinois.
“We are satisfied that there will be a new strong owner of Kongskilde Agriculture. CNH Industrial will continue to service Kongskilde Grass and Soil customers and end-users, while developing the business further. The transaction will also enable DLG to focus on the development of our two remaining business areas — Kongskilde Industry and Kongskilde Grain — and release of their full potential,” said Mr. Kim Balle, chairman of Kongskilde and COO of its parent company — DLG Group.
Terms of the deal were not announced. It is subject to the normal closing conditions and regulatory approvals.
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