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.
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