BRODHEAD - Kuhn Group, with hundreds of employees at its North American headquarters in Green County, has announced it will acquire Kansas-based Krause Corp., another agricultural equipment firm.
The acquisition is expected to close within a few weeks. When that happens, both companies will be called Kuhn Krause, Inc.
The Kuhn Group specializes in design, manufacturing and marketing of hay and forage, livestock breeding and bedding, tillage, and other farming products.
Founded in 1916, Krause Corp. is in a similar space - focused on the design and manufacturing of primary and secondary tillage, strip-till and vertical tillage equipment; and grain drills for tractors.
Revenues for Krause Corp. were about $61 million in 2010, with a workforce of 230, officials said.
The acquisition will help complement Kunhn's existing product line, company officials said.
The emergence into the large North American crop-production sector also was a factor - as was the addition to the international sector.
Kuhn Group also says it hopes to reinforce its place in the crop production market segments, which they hope fuels growth.
France-based Kuhn Group has a global work force of more than 3,500, and seven manufacturing plants in the U.S., Brazil, the Netherlands and France.
It employs about 500 at its facility in Brodhead, according to published reports. Kuhn's revenues exceeded $850 million in 2010.
Terms of the deal, announced last week, were not immediately disclosed.
The acquisition is expected to close within a few weeks. When that happens, both companies will be called Kuhn Krause, Inc.
The Kuhn Group specializes in design, manufacturing and marketing of hay and forage, livestock breeding and bedding, tillage, and other farming products.
Founded in 1916, Krause Corp. is in a similar space - focused on the design and manufacturing of primary and secondary tillage, strip-till and vertical tillage equipment; and grain drills for tractors.
Revenues for Krause Corp. were about $61 million in 2010, with a workforce of 230, officials said.
The acquisition will help complement Kunhn's existing product line, company officials said.
The emergence into the large North American crop-production sector also was a factor - as was the addition to the international sector.
Kuhn Group also says it hopes to reinforce its place in the crop production market segments, which they hope fuels growth.
France-based Kuhn Group has a global work force of more than 3,500, and seven manufacturing plants in the U.S., Brazil, the Netherlands and France.
It employs about 500 at its facility in Brodhead, according to published reports. Kuhn's revenues exceeded $850 million in 2010.
Terms of the deal, announced last week, were not immediately disclosed.