Bourgault Industries set to be acquired by Linamar in $640 million deal
The Linamar Corporation is set to acquire St. Brieux, Sask. based Bourgault Industries for $640 million.
The deal was announced by Linamar on Wednesday.
"We are thrilled to welcome Bourgault Industries into the Linamar family. Bourgault is another Canadian manufacturing success story that draws many similarities to Linamar's history of entrepreneurism and technical innovation,” Executive Chair and Linamar CEO Linda Hasenfratz said in the announcement.
Bourgault marks the third strategic acquisition of 2023 for the Guelph, Ont. based agricultural firm as it seeks to better serve its western Canadian and U.S. Midwest markets.
Bourgault was originally incorporated by Frank Bourgault in 1973 – beginning with a modest shop and recruiting local talent – the company now boasts over 900 employees in Saskatchewan and 1,000 across the globe.
“Bourgault was started by my father and has a rich history in agriculture. The Bourgault family is incredibly proud of the legacy we have created both here in St. Brieux but also around the world,” CEO Gerry Bourgault said in the announcement.
“I am confident Linamar will take the Bourgault brand to new heights in its next chapter, while also allowing Bourgault to maintain and build upon its deep-rooted connections to its stakeholders in Saskatchewan and around the world.”
The deal will see Linamar purchase 100 per cent of the equity interest of Bourgault. The acquisition includes Bourgault’s Highline Manufacturing division, which produces hay handling and livestock feeding equipment, as well as roto-moulding producer Free Form Plastics.
The company will join the ranks of other Canadian agricultural brands such as harvesting manufacturer MacDon and Salford, which specializes in farm tillage and crop fertilizer applicator equipment.
The transaction is expected to close in Q1 of 2024.
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