Keestrack announces it has signed an agreement to acquire Goldoni, a manufacturer of specialized agricultural equipment.
While primarily focused on the mining, recycling and construction equipment markets, the acquisition will enable Keestrack to now enter the agricultural equipment market. In addition to entering a new market segment, the company says the acquisition will also help it further grow its presence in the construction market.
“After decades of organic growth, we’re glad to continue our growth by expanding our business into the agricultural segment,” says Kees Hoogendoorn, President of the Keestrack group. “After analyzing many opportunities we felt personally drawn to Goldoni for its rich traditional family values which are very close to ours. Our goal is to keep this historic brand alive supporting the local economy and employment rates.”
“We see a lot of synergy between the current businesses, such as: production systems, suppliers and dealer network, which will leverage the Goldoni business to bring success to the company,” says Peter Hoogendoorn, Vice President of Operations of the Keestrack Group.
Keestrack says in its press release announcing the acquisition that it already has a clear strategy to restart production of Goldoni tractors as soon as possible. It will focus on making the best specialized tractors, transcars and motor cultivators by combining competencies from the two companies.
“The product portfolio will meet the customer’s requirements. We look to the future and want to introduce the K-series open field tractors in the near future. The Goldoni dealer network, in synergy with Keestrack’s, will be the key to make the orange Goldoni tractors strong on the fields again,” says Roberto Lopes, Keestrack Italy CEO.
Goldoni is known for making a wide range of high-tech agricultural equipment from moto cultivators to specialized tractors like four-wheel drive machines dedicated to orchards and vineyards.
Keestrack says it will save 110 jobs by investing into Goldoni and is confident it will make a success of the brand's heritage and expanding its future opportunities.