CNH INDUSTRIAL ANNOUNCES COMPLETION OF KONGSKILDE AGRICULTURE ACQUISITION
London, January 31, 2017
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announced today that the Company has completed its acquisition of the agricultural Grass and Soil business of Kongskilde Industries, previously part of the Danish Group Dansk Landbrugs Grovvareselskab (DLG A.m.b.A.). The acquisition agreement was previously announced by the two parties on October 31, 2016.
Effective February 1, 2017 CNH Industrial will take over DLG A.m.b.A’s business unit that develops, manufactures and sells solutions for agricultural applications for Tillage, Seeding and Hay & Forage under various brands, including Kongskilde, Överum, Howard and JF.
As a result, New Holland Agriculture, one of the Company’s global agricultural machinery brands, will gain a significant extension to its product portfolio offering, while the Kongskilde brand, sales organizations, dealers and importers will continue to be developed and serviced.