Toromont Industries is expanding its farm equipment network in Manitoba.
photo courtesy Challenger-ag.us
The parent company of Toromont Cat has acquired Ag West Equipment Ltd, with its dealerships at Neepawa and Portage la Prairie, for $6 million, inclusive of acquired debt. The acquisition, which occurred on September 30th, was made public with the release of Toromont’s third quarter financial results today.
Managed by father/daughter pair Ross and Joella Tufford, Ag West served as a dealer for Agco’s equipment lines, including Massey, Gleaner and Hesston, as well as Versatile, Spra-coupe, Morris and other brands. The company was in business for over 20 years and had revenues of $19 million last year.
Toromont Cat owns existing agricultural equipment dealerships in Manitoba at Elie and Brandon, as well as a parts outlet at Winkler.
Toromont Industries’s Equipment Group has three main businesses: Toromont Cat — one of the world’s largest Caterpillar dealers, Battlefield Equipment – the Cat Rental Store, and Toromont Energy.
*Editor’s note: this story was revised to note the acquisition price as “inclusive of acquired debt.”