Papé Machinery Agriculture & Turf, a John Deere dealership with locations in California, Washington, Oregon and Idaho, purchased Team Power, a John Deere dealership based in California. The acquisition is effective May 31, 2019.
With the acquisition, it will add 4 new stores in Minnesota including Warren, Thief River Falls, Mahnomen and Baudette. True North will have 8 retail locations in Minnesota and North Dakota following the acquisition.
Prairieland Partners, LLC has entered an agreement to purchase O'Malley Equipment Company pending John Deere approval. The dealership will have 15 locations once the acquisition is finalized in June of 2019.
At least for now, if a North American farm equipment dealership wants to buy, sell or merge their business it’s usually a simple matter of negotiating with an interested party along with “some” input from their OEM. This is apparently not the case in Europe.
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In this week's episode we take a look at the latest Dealer Sentiments & Business Conditions survey, which shows used combine inventories reaching a record low. In the Technology Corner, Ben Thorpe discusses the findings of study done by the Assn. of Equipment Manufacturers, the American Soybean Assn., Crop-Life America and the National Corn Growers Assn., on the environmental benefits of precision ag technology. Also in this episode the House Ag Committee approves a $5.5B disaster aid bill that will put money in farmers' pockets, AGCO's second quarter net sales improved by double-digits and CEMA's general Business Climate Index shows European ag equipment industry sentiment dropped slightly in July.