Italian self-propelled sprayer manufacturer Grim has been bought by Milan-based investment fund Hyle Capital Partners. It is business as usual says the new owner.
Based in Jesi, Grim manufactures a wide range of different models with tank capacities from 3,500l to 5,000l and boom widths up to 36m. Distributed in Australia, Chile, Europe, North America and Japan, the UK debut was at Cereals last year, following a distribution agreement with Scottish Borders dealer Merse Agriculture. The plan is to increase sales in existing overseas markets and leverage the Guaresi dealer network to enter new ones.
Grim is the fourth investment for Hyle’s ‘Finance for Food One’ fund, which aims to create an Italian agricultural group with a turnover of €50 million within the next five years.
These include a stake in leading dried fruit company Manuzzi and sparkling wine producer Contri Spumanti, but the biggest machinery news was last summer’s acquisition of Italian self-proplled tomato harvester manufacturer Guaresi. The Guaresi family members remain in the organisation to provide support during the post-acquisition phase.
For more up-to-date farming news click here and subscribe now to profi for just £3.99 an issue.
