Published - 01 Mar 2023 by Tractor Junction
Solis Tractors & Agricultural Machinery, Netherlands (a part of International Tractors Limited (ITL) has recently acquired Thaler GmbH & CO KG (a Germany-based wheel loader specialist) to enter the European market. With this acquisition, the company aims to complement its portfolio with high-quality wheel loaders in the 19-75 HP range. The German company is a well-established player in the wheel loader market and this acquisition will be an advantageous move.
With this strategic move, the leading tractor brand aims to expand its ITL portfolio with high-quality wheel loaders and add to its widest tractor range. The entire deal was initiated with a business investment of Rs 200 crores.
Solis, a leading international tractor brand, has always been dynamic that meets market demand by innovating & introducing futuristic technologies. Solis Tractors & Agricultural Machinery, the flagship company of ITL in Netherlands Europe, is proud to announce the acquisition of German-based company Thaler GmbH & CO. KG.
The wheel loader market has huge growth potential with annual sales of more than 80,000 units. After the acquisition, Thaler will continue to work without changing its brand identity. The company now will be led by Mr Manfred Thaler, as the Managing Director (son of company founder Mr Johann Thaler).
This powerful move will help increase production capacities and build strong networks for ITL in Europe. Dr. Deepak Mittal, Managing Director, ITL Group and Mr Manfred Thaler, Owner, Thaler GmbH & CO. KG initiated this takeover in Thaler Factory & Office.
Dr. Deepak Mittal, Managing Director, International Tractors Limited said, on this latest acquisition said — “We are excited to announce the acquisition of Thaler GmbH & CO. KG under our Netherlands-based entity Solis Tractors & Agricultural Machinery and we will invest Rs 200 crores for the deal. A leading brand in wheel loader manufacturing, Thaler is a well-known wheel loader manufacturer in Europe which is known for its reliability and craftsmanship in developing next-gen technologies. “
Adding on —- “Being the largest tractor exports brand from India, wheel loaders will be an advantage for our portfolio as they have enormous potential for agriculture, dairy & construction work across EU & USA markets. The move will surely provide high-end synergies to existing ITL agri equipment portfolio and strengthen our existing presence in 140+ countries across the world.”
The CEO of Thaler GmbH & CO. KG —Mr. Manfred Thaler said, “We are pleased and excited about this acquisition by ITL Group and we believe that this acquisition will bring the ITL expertise into the wheel loader segment. ITL has a proven record in the tractor segment & they have the largest tractor-manufacturing plant in India. Their experience of the industry will enrich the Thaler brand & its employees.”
We congratulate both stakeholders and wish them all success in their future endeavours with this major takeover.
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