Ag Growth International (AGI) has officially acquired Westeel for a purchase price of $221.5 million.
Westeel, head-quartered in Winnipeg, is Canada's leading provider of grain storage solutions offering a wide range of on-farm and commercial products for the agricultural industry.
"The strategic acquisition of Canada's leading brand in grain storage further establishes AGI as a global leader in grain handling and storage solutions," said Gary Anderson, AGI’s Chief Executive Officer. "AGI and Westeel share a deep commitment to product quality and customer service and combined we create a Canadian-based global agricultural leader with a long history of serving the needs of our customers. Westeel’s complementary product offering expands our growth platform within North America and around the world and we look forward with enthusiasm to bringing this outstanding company into the AGI family."
Source : PortageOnline