Agco has announced that it has agreed to acquire Sparex Holdings Ltd – a leading independent, global distributor of accessories and tractor replacement parts serving the agricultural aftermarket – and its trading subsidiaries from Rubicon Partners Industries LLP for £53 million.
The transaction is expected to be completed before the end of 2010 once competition authority approval is obtained.
Based at Exeter, the company has operations in 17 countries and exports to more than 75 countries.
Sparex supplies only to trade customers and its customer base is made up of over 20,000 retailers and importing wholesalers worldwide. Retailer customers include tractor and implement dealers, agricultural engineers, country stores and an increasing number of businesses unconnected with agriculture.
“Sparex is an excellent fit with Agco and will allow us to extend our reach in the agricultural aftermarket and provide our customers with an even wider range of products and services,” Agco’s chairman, president and chief cxecutive, Martin Richenhagen, said. “Sparex will continue to trade as an independent business and market its products through existing channels.”
Agco, which markets products under the Massey Ferguson, Challenger, Valtra and Fendt brands, is following in the footsteps of John Deere, which owns the farms spares firm Vapormatic.
The transaction is expected to be completed before the end of 2010 once competition authority approval is obtained.
Based at Exeter, the company has operations in 17 countries and exports to more than 75 countries.
Sparex supplies only to trade customers and its customer base is made up of over 20,000 retailers and importing wholesalers worldwide. Retailer customers include tractor and implement dealers, agricultural engineers, country stores and an increasing number of businesses unconnected with agriculture.
“Sparex is an excellent fit with Agco and will allow us to extend our reach in the agricultural aftermarket and provide our customers with an even wider range of products and services,” Agco’s chairman, president and chief cxecutive, Martin Richenhagen, said. “Sparex will continue to trade as an independent business and market its products through existing channels.”
Agco, which markets products under the Massey Ferguson, Challenger, Valtra and Fendt brands, is following in the footsteps of John Deere, which owns the farms spares firm Vapormatic.
For more information visit: www.sparex.co.uk.
