Montana Tractor Acquires Farmtrac

Montana Tractor is set to purchase Farmtrac for $14.1 million, AgriMarketing reports. The company was expected to be sold to the South Korean company LS Mtron. The winning $14.1 million bid was significantly higher than LS Mtron’s reported $10 million offer. Analysts had expected LS Mtron to be the buyer, as Farmtrac was more than $11 million in debt to the company for parts and tractors.

The Montana bid is especially surprising as they were not thought to be in the running for Farmtrac, and had previously made offers to acquire only “personal property assets but not real estate,” according to court documents.

There is no word as of yet on what will become of Farmtrac’s 280-location dealer network. ❖