MacDon enlists Goldman to run $1 bln auction -sources

NEW YORK, April 17 Wed Apr 17, 2013 6:19pm EDT

NEW YORK, April 17 (Reuters) - MacDon Industries Ltd, one of North America's largest manufacturers of windrowers, is looking for a buyer in a deal that could fetch around $1 billion, four people familiar with the matter said on Wednesday.

The Canadian family-owned company, based in Winnipeg, Manitoba, makes machinery used to harvest various agricultural products such as cereal grains, oilseeds, rice and soybeans.

MacDon is being advised by Goldman Sachs Group on the auction that is at an early stage, and has drawn initial interest from private equity firms, two of the people said, asking not to be named because the matter is confidential.

MacDon began in 1949 as Killbery Industries Ltd, a manufacturer of agricultural equipment including sprayers, grain augers, discer seeders, cultivators and manure spreaders.

It was renamed MacDon following the company's acquisition by the MacDonald family in 1971, according to its website.

Representatives for MacDon did not respond to requests for comment. Goldman declined to comment.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.