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Linamar Corporation Announces the Acquisition of Salford Group in a Significant Expansion of its Agriculture Porfolio
Linamar Corporation Announces the Acquisition of Salford Group in a Significant Expansion...
About this update from Linamar Corporation
[{"type":"text","content":"\n \n \n \n Linamar Corporation Announces the Acquisition of Salford Group in a Significant Expansion of its Agriculture Porfolio\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n GUELPH, ON\n \n \n ,\n \n \n April 27, 2022\n \n \n /CNW/ - Linamar Corporation (TSX: LNR) today announced that it has entered into an agreement to acquire 100% of the issued and outstanding equity of the\n \n Salford\n \n group of companies (the \"Salford Group\").   The Salford Group is a global leader in crop nutrition application and tillage products. Under the terms of the agreement, Linamar will pay approximately CAD\n \n $260 Million\n \n to Salford Group's shareholders, subject to ordinary transaction adjustments. Linamar intends to use funds available through its existing credit facilities to complete the transaction. The purchase is expected to close during the second quarter of 2022, subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approval.\n \n \n \n \n \n \n \n \n \n The acquisition of the Salford Group will expand Linamar's agriculture's portfolio, which is currently anchored by MacDon Industries Limited. Following the acquisition, Salford Group will continue to leverage its established manufacturing and distribution network to sell products under the Salford brand.\n \n \n \"This is an exciting and important acquisition for Linamar,\" said\n \n Linda Hasenfratz\n \n , Linamar's Executive Chair and CEO. \"\n \n Salford\n \n has a strong portfolio of differentiated products in the crop nutrition application and tillage segments. These are areas we had identified in our agriculture growth strategy as highly attractive segments for future product diversification.\"\n \n \n \"Agriculture and food is a key element of our Linamar 2100 strategic roadmap, which was first outlined following our acquisition of MacDon in 2018\", said\n \n Jim Jarrell\n \n , Linamar's President and COO. \"Through MacDon, we already have an established market-leading position in the harvesting segm...