AGCO to Buy Boyd Assets, Launch Dealership
AGCO Corp. intends to acquire certain assets of Boyd Company of Louisville, Ky. Upon completion of the agreement, AGCO will form AgRevolution, an equipment dealership to provide products and services to the farming community in Kentucky and southern Indiana.
AgRevolution is expected to begin operations Jan. 1.
AgRevolution intends to operate Boyd’s current dealer locations in Columbia and Mayfield, Ky., and temporarily share space with Boyd’s construction equipment locations in Hopkinsville, Ky., and Evansville, Ind.
AgRevolution leadership is identifying additional permanent locations and building a customer-focused staff from Boyd ag employees and seeking new team members.
The launch of AgRevolution is a unique situation and the result of Boyd’s decision to focus on its core heavy construction equipment business and AGCO’s commitment to continue serving customers in the area. Though it will be a wholly owned subsidiary of AGCO, AgRevolution will operate in a manner similar to that of AGCO’s independent dealerships.
“We’re tremendously excited about what AgRevolution will equip AGCO to do for our customers throughout that area and our greater network of dealerships,” says Robert Crain, senior vice president and general manager, AGCO North America. “AGCO is building the most vibrant dealership network in North America. AgRevolution will be part of innovative sales and service initiatives and will help equip our larger dealership network with new capabilities that will make them more successful. This is a win-win-win for farmers in Kentucky and Indiana, for AGCO, and for our dealers across North America.”
AgRevolution will be led by Stacy Anthony, a veteran of the farm machinery industry. In his 30-year career, Anthony has served in leadership positions of dealerships across the United States.
Source: AGCO