Double L, a manufacturer of farm equipment in the Intermountain West, announced it has reached a definitive agreement to be acquired by a group of Idaho investors. The strategic investors include Teton Management Group, Pickett Equipment and the Idaho Legacy Fund, all of whom are headquartered in Idaho and led by individuals who have experience in the agriculture industry. This strategic investment will enable the company to accelerate product offerings, expand support for customers and enter a new era of leadership in the farm equipment industry.
Founded in 1975, Double L manufactures harvesting and handling solutions for farms throughout the United States. Located in the heart of the largest potato producing region in the nation, Double L has grown over its 45 years to serve not only potato growers in the U.S. but farmers of numerous crops in countries around the globe.
Newly appointed Double L CEO Jeff Sayer is the former Idaho Secretary of Commerce and Managing Member of Idaho Legacy Fund. Chris Hunsaker, former CEO of Double L who will assume a new role of Chief Business Development Officer, said he is pleased with this opportunity to ensure Double L’s future growth.
Kurt Harman, Managing Member of Teton Management Group, said, “This transaction merges a rural icon with local investors who understand and know the importance of building a community and region. This investment will harness a powerhouse of experience in the investor group. We are excited to partner with the team at Double L who care about the potato industry and know how to build a quality product.”
Tracking Changes Among Large Ag Equipment Dealership Groups: As dealer consolidation continues among North American farm equipment dealers, Ag Equipment Intelligence will continually update industry mergers & acquisitions, dealership openings and closings as they occur.