Lindsay agrees Brazilian irrigation acquisition to broaden local offering

Lindsay ($LNN) reached an agreement to acquire Setorial Irrigação, a Brazilian maker of irrigation equipment with about three decades of operating history. Setorial produces hose-reel systems, sprinklers and motor pumps at its facility in Limeira, São Paulo. The products would expand Lindsay's offering alongside its Zimmatic center-pivot systems and complement its existing irrigation portfolio.

The transaction remains subject to customary closing conditions and is expected to complete in the coming months. Financial terms were not disclosed. Lindsay plans to retain Setorial's brand, employees and production facility, with founder and chief executive Diomedes Pellegrini Tamani continuing in the business. The agreement would increase local manufacturing and product reach in Brazil, but the announcement provides no quantified revenue or earnings contribution.

Sources:

• Issuer release via StockTitan