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New Holland to Acquire Kongskilde Agriculture
CNH Industrial, owner of New Holland, will acquire the grass and soil businesses of Kongskilde Industries, a part of the Danish Group Dansk Landbrugs Grovvareselskab (DLG). Since New Holland is known primarily for hay equipment, the company believes this acquisition will broaden the scope of machinery products it offers to attract growers looking for tillage implements and extended hay and forage offerings.
Kongskilde Agriculture comprises the Kongskilde, Överum, and JF brands — all of which will operate under current sales, dealer, and importer networks for now. CNH will service Kongskilde tillage, hay, and forage customers after the deal closes.
“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 its products into the New Holland portfolio,” says Carlo Lambro, New Holland Agriculture brand president.
Acquiring Kongskilde Agriculture will mean taking on European manufacturing plants in Poland and Sweden, as well as a number of other facilities in the EMEA, APAC, and NAFTA regions. A Kongskilde facility in Hudson, Illinois, will likely be leased to CNH.
“We are satisfied that there will be a new, strong owner of Kongskilde Agriculture,” says Kim Balle, Kongskilde chair and COO of DLG Group. “The transaction will enable DLG to focus on the development of our two remaining business areas — Kongskilde Industry and Kongskilde Grain.”
Antitrust authorities still need to approve this agreement and acquisition.