AGCO, a company that manufactures and distributes tractors, combines, hay tools, sprayers, forage, tillage equipment, implements and related replacement parts, has agreed to acquire Sparex Holdings Ltd. and its trading subsidiaries from Rubicon Partners Industries LLP for an estimated $85.8 million (£53 million.) The purchase is expected to be complete before the end of this year.
Headquartered in Exeter, England, Sparex is an independent, global distributor of accessories and tractor replacement parts for the agricultural aftermarket. It has operations in 17 countries and exports to more than 75 nations.
“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,” stated Martin Richenhagen, AGCO’s chairman, president and CEO. “Sparex will continue to trade as an independent business and market their products through existing channels.”
AGCO’s products are branded as Challenger®, Fendt®, Massey Ferguson®, and Valtra®, and distributed worldwide by independent dealers and distributors.