AGCO completes sale of Grain & Protein business
04 November 2024
AGCO Corporation has completed the previously announced divestiture of the majority of its Grain & Protein business to American Industrial Partners as of Nov. 1, 2024. The all-cash transaction was valued at approximately $700 million.
The transaction included the sale of the five primary Grain & Protein brands – GSI, Automated Production (AP), Cumberland, Cimbria and Tecno.
Proceeds from the sale, net of working capital and other customary closing adjustments, will be used consistent with the company’s stated capital allocation priorities, which include primarily debt repayment; investment in technology and organic growth initiatives; and return of capital to shareholders.
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