AGCO Announces Transformation of Ohio Dealership Network

Rhea-AI Summary

AGCO (NYSE: AGCO) has announced a significant transformation of its dealership network in Ohio. The initiative will see established dealers Lowe & Young, Mayer Farm Equipment, and North Star Hardware & Implement expand their services and product offerings within their existing territories.

Additionally, AGCO-owned AgRevolution will enter the Ohio market with new brick-and-mortar locations and mobile services, allowing farmers in northern Ohio access to AGCO's full product lineup, including Fendt, Massey Ferguson, and PTx brands.

This strategic move aims to provide comprehensive service and support to Ohio farmers, ensuring minimal downtime and enhanced access to AGCO's advanced agricultural machinery and precision technology. The transformation includes a comprehensive care plan to assist customers during the transition period.

Positive

• Expansion of services by established dealers in Ohio.
• Introduction of AGCO-owned AgRevolution in northern Ohio.
• Comprehensive care plan to ensure smooth transition for customers.
• Increased access to AGCO's full product lineup, including Fendt, Massey Ferguson, and PTx brands.

Negative

• None.

Tenured dealerships to provide comprehensive access and services for farmers to popular AGCO brands throughout the Buckeye State.

AGCO announced the transformation of its dealership network in Ohio, which will see experienced dealers expand access to the manufacture's popular brands throughout the Buckeye State. Current Ohio dealers Lowe & Young, Mayer Farm Equipment and North Star Hardware & Implement will expand their services in current territories. AGCO-owned AgRevolution will enter the state with brick-and-mortar locations and mobile services to provide AGCO's full product lineup to farmers in northern Ohio.

DULUTH, Ga., July 2, 2024 /PRNewswire/ -- AGCO Corporation (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, today announced the transformation of its Ohio dealership network. Several of AGCO's well-established dealerships will grow to provide expanded services within the Buckeye State. Lowe & Young, Mayer Farm Equipment and North Star Hardware & Implement – all current AGCO dealers in Ohio – will expand their product offerings and services in their existing territories. AgRevolution^® – a rapidly-growing AGCO-owned dealership with locations in Illinois, Indiana and Kentucky – will be expanding its operations into the state with brick-and-mortar locations and mobile services to provide AGCO's full product lineup to farmers in northern Ohio.

AGCO and its dealer network will implement a comprehensive care plan over the coming months to inform customers of transition plans, introduce them to new dealer teams and answer questions. "There's no such thing as 'down-time' in farming, and our dealers will ensure seamless sales and support services to all AGCO farmers," said Ruchir Patel, AGCO Vice President, Global Distribution Management.

The dealerships intend to offer AGCO's full brand portfolio, including Fendt^®, Massey Ferguson^® and PTx^® products and services. Lowe & Young, Mayer Farm Equipment, and North Star Hardware and Implement will continue operating in their current geographic areas with expanded product lines and services. AgRevolution is expected to open multiple new locations across northern Ohio while also offering commercial application retail services throughout the state.

"Ohio farmers are essential to AGCO's farmer-first purpose, and this transformation promises expanded access to our brands in the state," said Patel. "These dealers offer some of the best customer experiences in the industry, and we're excited to roll out their capabilities to a wider Buckeye audience."

For more information, contact AgRevolution, Lowe & Young, Mayer Farm Equipment and North Star Hardware & Implement.

Fendt, Massey Ferguson and PTx are registered trademarks of AGCO. AgRevolution is a trademark of AgRevolution LLC, a wholly-owned subsidiary of AGCO.

About AGCO
AGCO (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers through its differentiated brand portfolio including core brands like Fendt®, GSI®, Massey Ferguson®, PTx and Valtra®. AGCO's full line of equipment, smart farming solutions and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $14.4 billion in 2023. For more information, visit www.agcocorp.com. For company news, information, and events, please follow us on X: @AGCOCorp. For financial news on X, please follow the hashtag #AGCOIR.  

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SOURCE AGCO Corporation

FAQ

What changes are happening with AGCO's dealership network in Ohio?

AGCO is expanding the services and product offerings of its Ohio dealers Lowe & Young, Mayer Farm Equipment, and North Star Hardware & Implement. Additionally, AGCO-owned AgRevolution will open new locations and provide mobile services in northern Ohio.

Which AGCO dealers are involved in the Ohio dealership transformation?

The transformation involves Lowe & Young, Mayer Farm Equipment, North Star Hardware & Implement, and AGCO-owned AgRevolution.

What new offerings will AGCO dealers provide in Ohio?

AGCO dealers will offer expanded product lines and services, including AGCO's full brand portfolio such as Fendt, Massey Ferguson, and PTx products.

When did AGCO announce the transformation of its Ohio dealership network?

AGCO announced the transformation of its Ohio dealership network on July 2, 2024.

What is the purpose of AGCO's Ohio dealership network transformation?

The transformation aims to provide comprehensive service and minimal downtime for farmers, enhancing access to AGCO's advanced agricultural machinery and precision technology.