By Alice McFarlane

Brandt announces purchase of Cervus Equipment

Aug 16, 2021 | 4:16 PM

MELFORT, Sask. – Brandt Tractor based in Regina, Sask. is acquiring Cervus Equipment.

The sale is valued at $302 million dollars.

Brandt CEO Shaun Semple said the addition of Cervus will mean three brand new components at Brandt that will be dedicated to serving agriculture, transportation and material handling industries.

“These segments, in addition to our existing specializations in construction, road building, forestry and more, will further establish Brandt as a total solutions provider across our diverse customer groups,” Semple said in a news release.

The offer of $19.50 per share represents a 37 per cent premium to the 20 day average price per share for the period ending Aug. 13.

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Cervus shareholders will convene for a meeting in October, with the deal expected to close in the fourth quarter of this year.

Cervus operates 64 dealerships and handles various equipment. John Deere Canada and Peterbilt Motors Company have given their approval for the change of control.

Brandt has over 100 locations in Canada and the United States.

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alice.mcfarlane@pattisonmedia.com

On Twitter: @farmnewsNOW