Danish Agro to acquire LMB Danmark A/S
Danish Agro will take over the activities of CLAAS importer LMB Danmark A/S on 1 January 2017 as part of the establishment of the new and future CLAAS distribution network in Denmark.
LMB Danmark has been the CLAAS importer for the Danish market since 1994, serving private CLAAS dealers. The company has a turnover of around DKK 400 million and 16 employees.
Danish Agro signed an agreement with CLAAS in March 2016 on the future distribution of CLAAS machinery for the whole of Scandinavia. The agreement with Lantmännen - the former owners of LMB Danmark - is part of efforts to establish a presence in three countries with the most efficient distributor network that also offers the best geographical coverage. This is currently achieved in Denmark via existing private CLAAS dealers.
Danish Agro's CEO, Christian Junker, is extremely satisfied with the deal:
"The deal with Lantmännen is extremely important in our efforts to set up a new structure for CLAAS in Denmark and we are very satisfied. We believe it positive that Lantmännen has seen the potential in finding a good solution for distribution structure in Denmark, and we see a lot of opportunities for further development of the company."
During the autumn and until December, preparation work for taking over CLAAS distribution in Denmark as from 1 January 2017 will be intensive.
Division Manager at Lantmännen Machinery, Håkan Pettersson, believes the deal represents a good opportunity to secure the company and its personnel well into the future.
"LMB Danmark has been in business since 1994 and is a market leader in Denmark with CLAAS as its top brand. We are delighted to find a solution for the future of the company with Danish Agro. The deal provides security and stability for the personnel of LMB Danmark," he says.
CEO of Danish Agro Machinery Holding A/S, Jens Skifter, says:
“We look forward to being able to secure CLAAS with its strong brand on the Danish market, where the focus will be on continued growth. Our service organisation will focus on professional back-up and ongoing development focusing on CLAAS for all our dealers.
LMB Danmark is a major presence and we have consulted with CLAAS to devise a plan for a smooth transition when Danish Agro Machinery Holding takes over responsibility for CLAAS in Denmark on 1 January," he says.
Managing Director of LMB Danmark, Michael Husfeldt, is also satisfied:
"I am delighted that Danish Agro Machinery is to take over as owner of LMB Danmark A/S, and that we can continue to develop CLAAS in Denmark with our existing personnel. Danish Agro has extensive experience and know-how within the industry that can certainly contribute to further development of the whole organisation in this country."
A condition of the transaction is that the competition authorities approve the acquisition, which the parties now await.