Mahindra focuses on European agro markets with acquisition of Sampo Rosenlew
Mahindra looks to increase its presence in combine harvesters in the global markets by raising its stake in the Finnish company.
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Mahindra & Mahindra has acquired Sampo Rosenlew, a Finland-based manufacturer of combine harvesters and forest machinery with market presence in Europe, CIS (commonwealth of Independent States) and Algeria. As per the agreement, Mahindra has increased its percentage of share from 35 percent to 49.04 percent. The total acquisition cost is Euro 46,59,534, which is equivalent to around Rs 37.74 crore.
Founded in 1853, the Finnish company claims to be developing a new range of combine harvesters for developing markets and for specialty crops. Through this acquisition, Mahindra aims to strengthen its focus on the combine and specialty harvester business in Asia, Africa and Eurasian economic union countries and Latin America.
Sampo has reported a turnover of Euro 52 million (Rs 420 crore) during the period of October 1, 2017 to September 30, 2018.
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