AGCO-Amity, the joint-venture that manufactures and sells seeding and tillage equipment under the brand names of Concord, Wil-Rich, and Wishek, has been bought by Sweden-based Väderstad.
Väderstad, which owns and builds Seed Hawk equipment at Langbank, Saskatchewan, says it has acquired 100 per cent of the AGCO-Amity Joint Venture (AAJV) and will be fully integrating it into the Väderstad global group of companies under the name Vaderstad, Inc.
AGCO-Amity, based in Wahpeton, North Dakota, was formed in 2011 through a 50/50 joint venture between AGCO Corporation and Amity Technology for the continued manufacturing of seeding and tillage products under the Concord, Wil-Rich, and Wishek brand names.
Some of those products have also been offered under AGCO’s Sunflower and Massey Ferguson brands around the world. AAJV has 110 employees, and is partnered with 270 dealers globally, most of them in the U.S.
Mats Båverud, CEO of Väderstad, says this acquisition is in line with their long-term ambition to grow in the North American market.
“AAJV has a strong position on the U.S. market combined with a product portfolio that gives us a more complete product offering in North America. This was an excellent opportunity to increase our footprint in the U.S.,” Båverud says. “Our vision remains the same: to be the world’s leading partner for an outstanding emergence. With the acquisition of AAJV we’re even more excited about the future.”
The acquisition is Väderstad’s second large investment in the North American market. The company took full ownership of Saskatchewan-based Seed Hawk in 2013, after being part-owners since 2006.
Financial terms of the deal have not been disclosed.