Kongskilde Industries, a Denmark-based supplier of industrial and agricultural machinery has entered into an agreement to sell its grass and soil activities, while maintaining its industrial and grain divisions.
Kongskilde Industries is part of Dansk Landbrugs Grovvareselskab (DLG). The sale to New Holland Agriculture continues DLG’s to strategy to divest itself of non-core activities and strengthen its focus on core business areas.
“We are satisfied that there will be a new strong owner of Kongskilde Agriculture,” said Kim Balle, chairman of Kongskilde and chief operating officer of DLG Group. “The transaction will also enable DLG to focus on the development of our two remaining business areas Kongskilde Industry and Kongskilde Grain.”
Subject to approval
The transaction includes a transfer of assets and brands related to the grass and soil activities of Kongskilde Industries, including plants in Poland and Sweden, a lease contract for production activities in the US and other facilities around the world.
The deal remains to be approved from the relevant antitrust authorities.