Mahindra and Mahindra’s farm equipment division has picked up 35 per cent stake in Finland’s Sampo Rosenlew, a combined harvester specialist, for 18 million. This is Mahindra’s second global acquisition in the farm mechanisation space in the last two years. The company had picked up 31 per cent stake in Japanese company Mitsubishi Agricultural Machinery. The latest acquisition will be aimed at creating an emerging market portfolio for Mahindra Sampo combined,apart from diversifying into harvesters for different crop beyond grains, which is Sampo’s speciality. This tie-up will help Mahindra get access to high tech harvesters to be introduced globally and Sampo with the help of Mahindra will be able to expand more aggressively in the emerging markets of Asia and Latin America. The R&D centre of Sampo will become the hub for development for harvesters globally. Pawan Goenka, ED of M&M, said the company is redefining the strategy for farm equipment business.
Source: Economic TimesM&M acquires 35% stake in Finnish co Sampo Rosenlew, enters combine harvester biz.
Industry: Agro based 2016-04-01
