Kverneland Group has signed an agreement to acquire 80 per cent of the shares in Italian forage merger manufacturer ROC.
Kverneland president and CEO Shingo Hanada said the move further strengthening Kverneland – and the Kubota Group’s – strategic commitment to hay and forage harvesting, by adding this important merger product line and achieving synergies between the companies.
Mr Hanada added ROC’s distribution partners and customers were an important asset, and he confirmed the continuation of the ROC brand and current sales network.
Both the previous owners of ROC, brothers Denis and Raffaele Ubaldi, will continuing their roles in the company after the transaction.
“We see great opportunities and synergies in becoming part of the Kverneland and Kubota Group,” Denis Ubaldi said. “Being part of this group with a strong global footprint offers important strengths in many areas such as product development, manufacturing and not least in the important further digitisation of farming systems and solutions.”
He added he was convinced the deal would further strengthen ROC and its ability to grow and deliver attractive products, solutions and support to its distribution partners and customers.
