Published on 1 Sep 2023 on Zacks via Yahoo Finance

Valmont (VMI) Closes HR Products Buy, Boosts Australian Growth

Valmont Industries, Inc. VMI, a global leader in providing critical infrastructure solutions and advancing agricultural productivity, has successfully acquired HR Products, a prominent wholesale supplier of irrigation components in Australia.

HR Products boasts an extensive portfolio of irrigation solutions catering to the agriculture and landscaping sectors. Established in 1979 in Perth, Western Australia, the company has cultivated a strong distribution network and established robust operations nationwide.

This acquisition significantly enhances Valmont's value proposition to customers in the crucial Australian agriculture market by expanding its geographical reach and bolstering its presence in the aftermarket parts segment. Valmont noted that it expects an immediate positive impact on earnings, with first-year revenues estimated at approximately $45 million.