Winnipeg-based farm equipment manufacturer Versatile has come a long way in six decades, but it’s not letting the grass grow under its tires.
The firm just celebrated its 60th anniversary with the first annual dealer meeting ever held in its home community July 15 and 16. Attendees got a sneak peek at three new prototypes of upcoming models, a tour of the expanded facility and insights into the company’s plans under new ownership.
In 2023, Versatile was acquired by Turkish firm Asko Holdings after years of changing ownership.
Grant Adolph, chair of the board and chief operating officer of Buhler Group of Companies (Versatile’s parent firm), said the new owners have proven forward-thinking and willing to invest.
“Asko purchased the company in 2023, and 2024 was a pretty good year,” he said. “They allowed us to put every dollar of that profit back into the business.”
That’s translated into an expanded and modernized plant with better workflow, new equipment and higher production capacity.
The bet on Versatile’s future comes during a period of muted farm equipment sales, but Adolph says they’ve spent the time preparing for the inevitable turnaround.
“The slower times have proven to be good times to invest in these kind of improvements,” Adolph told participants in the factory tour. “Then you’re ready to capitalize on it when the market gets stronger.”
Versatile has also experienced many such ups and downs over the years.
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