Salford Group Inc., a global leader in high-quality tillage and application equipment has announced it will be acquired by Linamar Corp. (TSX:LNR), an advanced manufacturing company based in Guelph, Ont., Canada. The purchase is expected to close during the second quarter of 2022, subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approval.
The acquisition of the Salford will expand Linamar’s agriculture’s portfolio, which is currently anchored by MacDon Industries Limited.
Aside from MacDon, Linamar is steeped in agricultural manufacturing history, having owned White Farm Equipment in the 1980’s along with Western Combine, who manufactured combines under the Massy Ferguson brand in the 1990’s. Linamar’s OROS Division in Eastern Europe also manufactures combine corn and sunflower headers under the MacDon and OROS brands.
“We are very excited to join the Linamar family,” said Geof Gray, president of Salford Group. “Linamar and MacDon both have excellent reputations in the industry and we believe the combination of our resources, our respective brand strengths and distribution networks will enable Salford to compete and innovate at a higher level with greater market coverage, delivering even more value to dealers and farmers.”
“This is an exciting and important acquisition for Linamar,” said Linda Hasenfratz, Linamar’s Executive Chair and CEO. “Salford has a strong portfolio of differentiated products in the crop nutrition application and tillage segments. These are areas we had identified in our agriculture growth strategy as highly attractive segments for future product diversification.”
Following the sale, Salford Group will continue to leverage its established manufacturing and distribution network to sell products under the Salford brand. It’s headquarters will remain in Salford, Ontario, Canada.
Source : Farm Equipment