Danish grain giant sold to the US

Cimbria snapped up by ACGO for an estimated 2.3 billion kroner

The Danish grain and seed firm Cimbria has been sold by the British equity fund Silverfleet Capital to AGCO, the US-based global leader in the design, production and distribution of agricultural machinery.

The deal, which is expected to be worth around 2.3 billion kroner, means that Cimbria will get its fourth owner in just ten years.

“Thanks to Silverfleet’s financial support and strategic insight, as well as to our world-class employees, Cimbria has undergone a rapid transformation over the past few years,” said Søren Overgaard, the CEO of Cimbria.

“We are well placed to continue growing our market share under our new owners, AGCO, as well as serving our customers.”

READ MORE: Danish companies cautious, but staying in Ukraine

Strong growth
The transaction is subject to regulatory approval and is expected to close in the third quarter of 2016. AGCO has no plans to outsource jobs away from Denmark.

Silverfleet purchased Thisted-based Cimbria from the Danish equity firm Axcel for about 1 billion kroner in 2013.

Cimbria has experienced solid development in recent years, including landing a silo project in Egypt that fetched around 750 million kroner.

Cimbria was founded back in 1947 as a family-run business, but the company has been owned by equity firms since 2007.

TOP STORIES

  • Diplomatic tensions between US and Denmark after spying rumors

    Diplomatic tensions between US and Denmark after spying rumors

    A Wall Street Journal article describes that the US will now begin spying in Greenland. This worries the Danish foreign minister, who wants an explanation from the US’s leading diplomat. Greenlandic politicians think that Trump’s actions increase the sense of insecurity

  • Diplomacy meets Westeros: a dinner with the King, Queen – and Jaime Lannister

    Diplomacy meets Westeros: a dinner with the King, Queen – and Jaime Lannister

    What do King Frederik X, Queen Mary, UN Secretary-General António Guterres, and Jaime Lannister have in common? No, this isn’t the start of a very specific Shakespeare-meets-HBO fanfiction — it was just Wednesday night in Denmark

  • Huge boost to halt dropouts from vocational education

    Huge boost to halt dropouts from vocational education

    For many years, most young people in Denmark have preferred upper secondary school (Gymnasium). Approximately 20 percent of a year group chooses a vocational education. Four out of 10 young people drop out of a vocational education. A bunch of millions aims to change that

  • Beloved culture house saved from closure

    Beloved culture house saved from closure

    At the beginning of April, it was reported that Kapelvej 44, a popular community house situated in Nørrebro, was at risk of closing due to a loss of municipality funding

  • Mette Frederiksen: “If you harm the country that is hosting you, you shouldn’t be here at all”

    Mette Frederiksen: “If you harm the country that is hosting you, you shouldn’t be here at all”

    With reforms to tighten the rules for foreigners in Denmark without legal residency, and the approval of a reception package for internationals working in the care sector, internationals have been under the spotlight this week. Mette Frederiksen spoke about both reforms yesterday.

  • Tolerated, but barely: inside Denmark’s departure centers

    Tolerated, but barely: inside Denmark’s departure centers

    Currently, around 170 people live on “tolerated stay” in Denmark, a status for people who cannot be deported but are denied residency and basic rights. As SOS Racisme draws a concerning picture of their living conditions in departure centers, such as Kærshovedgård, they also suggest it might be time for Denmark to reinvent its policies on deportation

Connect club

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

Sign up here

Career

Want to advertise your job with CPH Post?

Contact us

Jobs