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AGCO acquires Sparex from Rubicon Partners Industries

AGCO, Your Agriculture Company, a manufacturer and distributor of agricultural equipment, has agreed to acquire Sparex and its trading subsidiaries from Rubicon Partners Industries for GBP53m.

Sparex is a distributor of accessories and tractor replacement parts serving the agricultural aftermarket.

Headquartered in Exeter, UK, Sparex has operations in 17 countries and exports to over 75 countries.

The transaction is expected to close before the end of 2010 once competition authority approval is obtained.

"Sparex is an excellent fit with AGCO and will allow us to extend our reach in the agricultural aftermarket and provide our customers with an even wider range of products and services," says Martin Richenhagen, AGCO’s chairman, president and chief executive officer. "Sparex will continue to trade as an independent business and market their products through existing channels."

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