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Press releases 2014
Danish Agro acquires Danish machinery dealer Røstofte Maskiner A/S
Danish Agro has acquired 75 % of the shares in Røstofte Maskiner A/S
Danish Agro Machinery Holding A/S has signed a deal with Danish CLAAS dealer Røstofte Maskiner to acquire 75% of the shares in the company. Røstofte Maskiner is strongly represented on Zealand, Lolland, Falster & Møn, and is a well-run business with long experience in the industry.
Danish Agro's CEO, Christian Junker, is extremely satisfied with the deal:
"Røstofte Maskiner turned over DKK 158 million last year, has strong management and 37 skilled employees with a lot of CLAAS experience, making a difference every single day for Danish farmers. That's why I am delighted that by signing this deal with us, Røstofte Maskiner wanted to become part of the future dealer structure in Denmark. And we already know that they will play an important role. When the Managing Director of the company, Dann Nielsen, invited us to acquire a shareholding, we were of course delighted to accept. I see massive potential in the company and its skilled staff," he says.
Nielsen will continue as Managing Director and shareholder in the company.
"I believe that Danish Agro will be a strong partner and help ensure a bright future for Røstofte Maskiner. What was important to me was ensuring the future of the business in the rapid structural change taking place in Danish agriculture at this time. Røstofte Maskiner has enjoyed five years of constant growth as a CLAAS dealer, generating solid
revenues. That's something I want to continue with to the benefit of our customers and employees. I am convinced that we have better chance of ensuring a place for my business
in the market of the future together. Another thing that weighed heavily when making my decision to continue in
the business was that we can continue in both Mern and Sakskøbing. Our hunting and leisure division will also continue unchanged, selling a full range of professional garden and park machinery from the Mern branch.
Our business culture and core values can continue and develop through our new partnership, which was of major importance to me, as my own personal plan is to stay in the industry for many years yet to come. I therefore look forward to working closely with Danish Agro on building the future of Røstofte Maskiner, based on the close, long-term relationships on which we have run the business to date," stated Nielsen.
CEO of Danish Agro Machinery Holding A/S, Jens Skifter, is pleased with the prospects offered by the deal and looks forward to the partnership:
"Røstofte Maskiner is a well-run business with lots of qualities. Dann Nielsen has been a valued partner of Danish farming for many years, and our agreement with him will help ensure our future management team for machinery sales, and to retain considerable expertise and know-how in the Danish dealer structure."