Ag Growth International Inc. (“AGI”) is pleased to announce it has acquired 100% of the shares of Danmare Group Inc. and its affiliate Danmare, Inc. (collectively, “Danmare”). Sales and adjusted EBITDA for Danmare in its most recently completed fiscal year were $6.4 million and $1.7 million, respectively.
The addition of Danmare is a significant step in the development of AGI’s Food platform. Danmare provides engineering solutions and project management services to the food industry, with a specialization in automated systems for pet food, rice and pasta, confectionery, ready-to-eat foods, sauces and meat processing. The addition of Danmare further evolves AGI’s ability to provide complete solutions to a broad customer base. AGI is proud to welcome the Danmare team to the AGI family.
AGI is a leading provider of equipment solutions for agriculture bulk commodities including seed, fertilizer, grain, and feed systems with a growing platform in providing equipment and solutions for food processing facilities. AGI has manufacturing facilities in Canada, the United States, the United Kingdom, Brazil, South Africa and Italy and distributes its product globally.
Further information can be found in the disclosure documents filed by AGI with the securities regulatory authorities, available at www.sedar.com and on AGI’s website www.aggrowth.com.