Brandt Tractor Ltd. will acquire all of the issued and outstanding common shares of Cervus Equipment Corporation for $19.50 per share in cash, valuing Cervus at approximately $302 million on an equity value basis.
Cervus Equipment Corp., a 21 store John Deere dealership group, reported that overall revenue decreased 20% in the quarter, with reduced equipment sales in its Agricultural segment comprising the majority of the decrease, while a tapering of truck sales in its Transportation sector relative to the strong sales of 2018 was a secondary factor. Overall revenues include agriculture (56%) and transportation (34%) and industrial (10%) business segments.
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Precision ag pioneer Al Myers is a member of the Farm Equipment Shortline Legends Hall of Fame 2024 class. It’s been almost 35 years since the Ag Leader founder introduced the groundbreaking Yield Monitor 2000.