CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announced that it has entered into an agreement to acquire a 90% interest in Sampierana SpA, a privately held Italian company specializing in the design and manufacture of earthmoving machinery, undercarriage and spare parts. Within four years of closing, CNH Industrial will have full control of the company. The €101.8 million deal is expected to close in the fourth quarter of 2021.
“This strategic acquisition will further accelerate the profitability of our construction equipment business. Sampierana’s unique portfolio will strengthen our position in the most important market segments, and dealers and customers will have access to industry-leading products backed by our brand, dealer network and manufacturing expertise,” said Scott Wine, CEO of CNH Industrial. – I want to thank Construction President Stefano Pampalone and his team for bringing this transaction to completion and for their excellent work in transforming the construction side of our business, reducing our environmental footprint and returning it to profitability – an impressive achievement given the challenging market conditions.”
The Sampierana Group, which has built an excellent reputation in the construction sector with its line of Eurocomach mini and midi excavators, performed well compared to last year, particularly in Europe. Sampierana’s reliable, high-quality and innovative products are widely recognized. The company’s impressive product line, extensive customization options and existing electrical prototypes fit perfectly with CNH Industrial’s customer-focused and sustainable development approach. The agreement also means a significant expansion of the product range and technology offered by the group.
This acquisition will enable CNH Industria’s construction equipment division to integrate Eurocomach mini and midi excavators, Sampierana undercarriages and spare parts into its current range alongside the products of existing third-party original equipment manufacturer partners. The agreement confirms CNH Industrial’s commitment to invest heavily in its own construction equipment production and to develop it further, improving its position in the highly sought-after mini and midi excavators market.
Sampierana’s headquarters and production sites are located in Italy.