Linamar Corporation has completed its acquisition of Bourgault Industries Ltd. as of Feb. 1.
The agreement to acquire Bourgault, initially announced on Dec. 20, was worth C$640 million.
Linamar buys 100 per cent of the equity interests of Bourgault’s seeder operations at St. Brieux, Sask. as well as the Highline Manufacturing division and the roto-moulding producer Free Form Plastics.
Bourgault will be integrated into the new Linamar Agriculture division, joining MacDon who specializes in harvest equipment and Salford’s tillage and crop nutrition equipment.
Linamar Executive Chair and CEO Linda Hasenfratz said she was pleased the process has been completed.
“We now officially welcome Bourgault into the Linamar family. The core equipment brands of MacDon, Salford, and Bourgault now make up a unified Linamar Agriculture Division,” Hasenfratz said. “The brands will continue to operate as independent businesses in the same manner dealers and farmers have come to know them for. We are thrilled to have acquired a third jewel in our agricultural crown.”
In conjunction with the closing the Bourgault transaction, Linamar has also finalized a new CAD $700 million term loan agreement.
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