Agco is selling the majority of its grain storage and protein business to American Industrial Partners in an all-cash transaction valued at US$700 million.
The deal includes the five primary brands GSI, Automated Production, Cumberland, Cimbria and Tecno, but excludes the grain and protein business in China. Agco expects to incur a loss on the sale of the business in the range of US$450 million to US$475 million.
The transaction, which is expected to close before the end of the year, will allow Agco to streamline and sharpen its focus on agricultural machinery and precision ag technology products comments topman Eric Hansotia.
“The divestiture of grain & protein supports Agco’s strategic transformation, recently accelerated by the PTx Trimble joint venture, which closed in April 2024,” he said.
Agco acquires Trimble ag assets – Profi
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