Winnipeg-based Ag Growth International Inc. (AGI) has announced that it has acquired 100 per cent of the outstanding shares of Global Industries, Inc. for U.S. $100 million.

Global is a manufacturer of grain storage bins, portable and stationary grain handling equipment, grain drying and aeration equipment, structural components, and steel buildings. The company has four divisions located in Nebraska and Kansas, production capacity in South Africa, and warehouses in the U.S., Europe, Australia and Africa.

"We are excited today to announce that we have acquired the Global family of companies. This highly strategic transaction brings key products, very talented people, and great brands into the AGI group, and significantly increases our U.S. manufacturing capabilities and distribution channels," said Tim Close, President and Chief Executive Officer of AGI. "The U.S. grain market continues to be a core supplier of the world's food and AGI is committed to our dealers and customers in this important market. Jack Henry has built four strong businesses within Global which have benefited immensely from the leadership of Doug Fargo and his teams in Nebraska, Kansas and internationally as they pushed to grow their business both domestically and abroad. AGI and Global share very similar cultures and values that are focused on employees, customers, and achieving success. We are proud to welcome all Global employees to AGI, and look forward to working together to continue to partner with our combined suppliers and dealers to excel at earning our customers' respect and business."

"It was a very difficult decision for me to decide to sell Global Industries," said Jack Henry, Chairman and Chief Executive Officer of Global. "However, the culture and the way AGI does business were a great fit for Global and I'm very excited for Global's future prospects as part of AGI. I would also like to thank each and every current and former employee of Global for everything they have done for Global, and for me personally, over the past 15 years. Without their support and contributions, Global would not be the great company that it is today."

AGI also purchased Winnipeg grain-bin manufacturer Westeel back in 2014.