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New Holland Agriculture will expand its wide offering with new implement product lines as a result of CNH Industrial¹s agreement to acquire the agricultural Grass and Soil business of Kongskilde Industries, part of the Danish Group Dansk Landbrugs Grovvareselskab (DLG A.m.b.A.). This business develops, manufactures and sells solutions for agricultural applications in the Tillage and Hay & Forage segments under various brands, including Kongskilde, Överum and JF. Kongskilde will continue to operate through its current sales organization and its dealer network ensuring continuity in its customers support.
Major extension of the New Holland Agriculture product offering
This acquisition will create a major extension and enhancement of New Holland¹s offering with the addition of a key product portfolio. New Holland has a long history of leadership in the hay tools which dates back to 1940, when it made a major breakthrough in hay harvesting with the introduction of the first self-tying automatic pick-up baler to the American farmers. Throughout the years it has been motivated by its forward-thinking commitment to respond to its customers requirements and has developed a complete product offering of hay equipment for cutting, tedding, raking, baling and stacking. Today New Holland is a Global leading brand and an industry-leader in North America in the haytools and agricultural equipment markets.
The agreement is an important element in New Holland¹s global strategy to provide customers around the world with innovative and complete solutions to their farming needs by adding tillage equipment to its product portfolio and extending its hay and forage offering. New Holland will leverage its worldwide strength in the agricultural industry and the expertise of the Kongskilde organization and dealer network to grow the brand and its business.
The acquisition of the tillage and hay and forage activities of Kongskilde adds a key product range that will further broaden New Holland Agriculture¹s product offering within the agricultural machinery sector. "In the meantime the Kongskilde dealer and importer network will remain the reference point for their customers. This agreement will provide growth opportunities and create a strong platform to develop the Kongskilde business and its brands and we will also gradually integrate their products in the New Holland portfolio," said Carlo Lambro, Brand President of New Holland Agriculture.
Transfer of Tillage and Hay and Forage assets
The acquisition comprises a transfer of assets related to the tillage and hay & forage activities of Kongskilde Industries. The manufacturing footprint of this business includes two plants in Europe, located in Poland and Sweden, and other facilities in the EMEA, APAC and NAFTA regions. The transaction is subject to various closing conditions, including regulatory approvals.
"We are proud to welcome the well-established products and brands of Kongskilde, Överum and JF into the CNH Industrial Group. It is our intention to build upon these proud heritages and significantly increase their market access as part of our worldwide distribution network," commented Richard Tobin, CEO of CNH Industrial.