International trading and services company BayWa Ag is expanding beyond its traditional agricultural equipment sales territory of Germany and Austria by acquiring a 49% stake in a new joint venture with Dutch company Agrifirm for €3.8 million. BayWa and Agrifirm have formed a new joint venture called Agrimec into which Agrifirm will transfer its entire agricultural equipment business in the Netherlands and will take a 51% stake. The new joint venture will focus on sales in the southern Netherlands focusing on AGCO, Fendt, and Massey Ferguson products.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service