Linamar Corp. of Guelph, Ontario, entered into an agreement to acquire all of the outstanding equity interests of MacDon and its group of companies for an aggregate purchase price of approximately $957 million. Winnipeg, Manitoba-based MacDon is a designer and manufacturer of specialized agriculture harvesting equipment. MacDon has also developed strong relationships with a global dealer network of approximately 1,400 leading dealers and distributors, a major competitive advantage in the industry. MacDon will be combined with Linamar’s existing agriculture harvesting business in Hungary to position both businesses for significant growth.
“The acquisition of MacDon provides a truly once-in-a-lifetime opportunity to move our agriculture business into a market-leading position while providing meaningful diversification to the end markets we serve,” said Linda Hasenfratz, Linamar’s CEO. “We believe the long-term growth fundamentals for the agriculture industry are very strong given the growing and developing global population, noting the market is in the early stages of cyclical recovery.”