Australia's and the world's biggest Case IH dealerships have joined forces, with O'Connors being acquired by Titan Machinery, a US-based agricultural and construction company.
The two organisations have mutually agreed to a share purchase offer from Titan Machinery.
Titan Machinery owns a network of full-service agricultural and construction equipment stores throughout the United States and Europe and is the world's largest Case IH dealer.
Subject to customary closing conditions, it is expected that Titan will close on the acquisition of O'Connors during the fourth quarter of the calendar year 2023.
No job losses are expected in the acquisition.
O'Connors has 16 dealerships across NSW, Victoria and South Australia.
The family-owned business began in Birchip in north-west Victoria in 1964 when JJ O'Connor purchased his first International Harvester dealership, expanding significantly to include branches in Ballarat, Birchip, Bordertown, Condobolin, Corowa, Echuca, Forbes, Grenfell, Horsham, Mildura, Ouyen, Shepparton, Swan Hill, Warracknabeal, St Arnaud and West Wyalong.
O'Connors chief executive officer Gareth Webb said the current O'Connors management team and employees would remain the same.
"It will be business as usual in our day-to-day operations and our customers remain our number one priority," he said.
Mr Webb said the announcement reinforced the company's commitment to providing the best sales and support for customers across the network.
"Joining the Titan Group will further enhance the customer benefits that come with an expansive network, particularly in the areas of parts availability and technical support, as well as product expertise and availability," he said.
"Our customers and staff will have access to knowledge and support from the world's largest Case IH dealer, bolstering the support already offered."
Titan Machinery chairman and chief executive officer David Meyer said the company was impressed with the O'Connors senior management team, led by Mr Webb.
"(Mr Webb has) been operating the business exceptionally well over the last five years after succeeding the retiring major shareholders Dennis and Mark O'Connor," he said.
"It's the strong O' Connors team, along with their great track record of retailing and supporting the high horsepower Case IH product line up that makes this a very compelling acquisition. O'Connors has established itself as a respected leader in the region, earning a reputation for its deep expertise and employee and customer-centric focus."
Case IH Australia/New Zealand general manager Aaron Bett welcomed the announcement.
"O'Connors has a rich history in Australian agriculture and has built a significant business with an emphasis on the highest level of customer service and support," he said.
"I'd like to recognise Mark and Dennis O'Connor who have continued to grow the dealer group into a robust and dynamic network that has attracted Titan Machinery to recognise the enormous opportunities in the Australian agriculture market.
"Titan Machinery Inc, founded in 1980 and headquartered in West Fargo, ND, owns and operates a network of full service agricultural and construction equipment dealer locations in North America and Europe and will bring it's more than four decades of experience and knowledge. This agreement can only enhance the stability and ongoing development of the business, which is an enormous positive for the whole of the Case IH dealer network, and we look forward to working with the Titan Machinery team."
Paula Thompson
Paula Thompson is ACM's National Machinery and Ag Tech writer. She has been an agricultural journalist for more than 20 years. Prior to her current role, she was a reporter with the Stock Journal, covering livestock markets and the grains industry.
Paula Thompson is ACM's National Machinery and Ag Tech writer. She has been an agricultural journalist for more than 20 years. Prior to her current role, she was a reporter with the Stock Journal, covering livestock markets and the grains industry.
