The Japanese Marubeni Corporation (Marubeni) has acquired a majority controlling interest, with a minority equity stake retained by the existing shareholders, of Spaldings Holding Limited (Spaldings), a leading UK national distributor of replacement and consumable parts for the land management sector, for US$40 million.
Spaldings is unique in its market position in dealing directly with 35,000 UK and Ireland land managers, principally farmers, local authorities and their approved contractors that are serviced via a direct sales force, telephone sales and e-commerce trading. Spaldings will become part of Marubeni, whose other interests in the UK include the sale of agrochemicals, agricultural machinery and other transportation equipment.
The Marubeni Corporation is one of the largest trading companies in Japan with world-wide interests across varying markets such as food, forestry, chemicals, energy, minerals, power, finance and transportation and machinery.
David Fox, Spaldings Chief Executive and his senior executive team have entered into long-term employment agreements with Marubeni. Commenting on the acquisition, David said: “The opportunity to become part of a world-wide operation such as Marubeni is tremendously exciting. With their infrastructure, resources and knowledge the future of the Spaldings business with opportunities to grow both organically and via acquisition will only be enhanced."
Oaklins Cavendish, based in the UK, advised the seller in this transaction.
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