Czech company Agrostroj Pelhřimov has bought the Stoll Group, the well-known German manufacturer of tractor front loaders and attachments. It is business as usual, and the new owner is not planning to make any major changes.
Headquartered in Lengede, close to Hanover, the purchase includes two production facilities in Germany and one each in Poland and the US. The company has around 600 employees and a global (5,000 dealers) sales and distribution network.
With a worldwide production of around 22,000 units, Stoll reckons to be the world’s second largest tractor loader manufacturer with an annual turnover of €120m.
“I didn’t think about it for long, it’s not my style,” says Agrostroj owner and CEO Lubomír Stoklásek, who adds it was a great opportunity to significantly expand the business portfolio. “The acquisition fits ideally with our strategic plan and holds great synergy potential for both companies,” he adds.
Claiming to be the number one manufacturer of agricultural machines in the country, the family-owned Agrostroj Group is best known in farming circles for its drum mowers. It also manufactures components and machines for the likes of DAF, Scania and Volvo as well as Fendt, John Deere, Krone, Kuhn and Kverneland.
This year, the Czech company is aiming for a turnover of around €250m with 2,700 employees without Stoll. Together, the two companies are expected to generate a turnover of around €370m.
