Ag Growth International uses revolver for C$109.5 million acquisition

By Angela McDaniels

Tacoma, Wash., March 28 – Ag Growth International Inc. drew on its revolving credit facility to fund its acquisition of Milltec Machinery Ltd., according to a company news release.

The purchase price for Milltec was C$109.5 million, plus the potential for up to an additional C$38.4 million based on the achievement of EBITDA targets.

Ag Growth International is based in Winnipeg and makes equipment solutions for agriculture bulk commodities. Milltec is based in Bangalore, India, and makes rice milling and processing equipment.

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