South African-based Bell Equipment has revealed it has agreed to end its relationship with John Deere in which it distributes Bell-branded equipment that is designed and manufactured by Deere in certain markets in Southern Africa. The products are distributed through Bell’s network or sub-dealers.
The company said it will stop distributing Deere products beginning in January 2023 but will continue to provide aftermarket, technical and product support to its customers for an additional 10 years.
Bell Equipment will transition from an exclusive to a non-exclusive Deere dealer arrangement beginning in March. Media sources say Deere will sell its 31.4 percent stake in Bell to IA Bell and Company.
Bell Equipment recently reported its revenue fell by 24 percent in the first six months of 2020. Bell’s share price climbed by 30 percent following the Deere announcement.