AGCO to buy seed and grain handler Cimbria for $340M

• NYSE:AGCO agrees to acquire Danish seed and grain handler Cimbria Holdings from Silverfleet Capital for ~$340M.
• Cimbria sales, which are expected to reach $240M in FY 2016, are concentrated in western Europe with growing exposure to eastern Europe, Africa and the Middle East.
• AGCO says Cimbria’s products complement its GSI offerings and provides an opportunity to grow its business and expand its margins.