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Danish Agro invest i Danish CLAAS dealer
On 22 February, Danish Agro Machinery Holding A/S agreed to acquire 45% of the shares in Danish farm machinery dealer Traktor & Høstspecialisten A/S.
The company is based in Hinnerup, eastern Jutland, and is a large, well-established CLAAS dealer. As part of the deal, Danish Agro has the option of acquiring the remaining 55% of the shares by the end of January 2019.
Danish Agro's CEO, Christian Junker, is extremely satisfied with the deal:
"Traktor & Høstspecialisten is a well-managed, large and important machinery dealer with long experience of CLAAS products. It employs 27 people and had a turnover in 2016 of almost 34 million EUR. Danish Agro has a target of building up a strong CLAAS dealer structure for the challenges of the future, and this is where we believe Traktor & Høstspecialisten will come to play a key role. When the founder and owner of the company, Allan Mahler, 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.
Allan Mahler, who is to continue as Managing Director and majority shareholder, commented:
"The most important thing for me as the founder and owner of the company is to ensure the best possible conditions for its continued success. Offering Danish Agro a stake is due to the fact that I am convinced that we have a better chance to develop and grow the business together, and to ensure a smooth transition to a younger generation. That's why I look forward to working closely with them, and to securing the future success of Traktor & Høstspecialisten," he says.
CEO of Danish Agro Machinery Holding A/S, Jens Skifter, is pleased with the prospects offered by the deal:
"Denmark is known for its strong machinery dealers with long experience, high quality and no shortage of expertise. Traktor & Høstspecialisten is an excellent representative of such qualities, and has been a close partner for Danish farmers for almost 25 years. Our deal with the company will help ensure that level of expertise and know-how is retained within the Danish dealer structure."
The possible future acquisition of the remaining 55% of shares will be subject to approval by the Danish competition authorities.