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 also announced, as part of its strategy to grow product support offerings, a new agriculture facility planned near Penhold, Alta., and the acquisition of Vapormatic distribution rights for the North Island of New Zealand.
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.
This inaugural episode in plans for a new docuseries introduces father-son duo Ward and Marc McConnell who’ve led farm equipment manufacturer Art’s Way Manufacturing and other businesses. Filmed in Texas in 2017, this 13-minute video is one of 25 in-person interviews on the legacies of family-run equipment manufacturers collected over several years. This pilot is being early-released to mark the 1-year anniversary of Ward’s passing in May 2021.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
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