The sale of the grain business to AGCO is a key step towards implementing the new strategy. The American company is focusing on development in areas with the greatest potential for growth and innovation and intends to focus on providing precision farming solutions.
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AGCO CEO Eric Hansotia explained that the sale of the Grain & Protein business is part of the company’s strategic transformation, which was accelerated by the joint venture with Trimble in April 2024. The decision will allow AGCO to focus on its rapidly evolving agricultural machinery and precision farming technologies.
The whole thing is in line with the company’s long-term strategy, which places emphasis on development in areas that generate high growth.
Prospects for the new owner of the Grain & Protein segment
AIP, a company with extensive experience in the industrial sector, will acquire five core brands from the AGCO Grain & Protein portfolio: GSI, Automated Production (AP), Cumberland, Cimbria and Tecno. The sale excludes AGCO Grain & Protein’s operations in China.
Hansotia expressed his belief that AIP’s experience will enable the acquired brands to continue to grow and strengthen their position as market leaders in grain, seed and protein production equipment. He also noted that the new owner will open up new growth opportunities for the Grain & Protein business, which will benefit farmers around the world.
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AGCO's Future Plans
The net proceeds from the transaction will be used to advance AGCO’s capital allocation priorities, including debt repayment, technology investments and continued development and growth initiatives in the marketplace. AGCO also plans to return a portion of capital to its shareholders.
The transaction is expected to close before the end of the year.
