# AGI acquires Milltec Machinery for $109.5 million

Ag Growth International (AGI) has agreed to acquire 100% of Milltec Machinery, a manufacturer of rice milling equipment in India, for $109.5 million plus up to $38.4 million in earnouts. The transaction is expected to close by March 31, 2019.

- Type: Acquisition
- Announced: 2019-03-11
- Where: Bangalore, India, India
- Value: $109.5M
- Status: announced
- Products: rice milling and processing equipment
- Sectors: [Food Processing Equipment](https://endata.com/sectors/food-processing-equipment.md)

## Companies

- [Ag Growth International](https://endata.com/companies/19641.md) (acquirer)
- [Milltec Machinery](https://endata.com/companies/37914.md) (target)

## Sources

- [newswire.ca](https://www.newswire.ca/news-releases/agi-announces-platform-acquisition-in-india-847994768.html), 2019-03-11: "The acquisition of Milltec is the next step in AGI's 5-6-7 strategy"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.