Yanmar has acquired 6.26 percent of the capital and voting rights of Manitou BF. The shares were acquired from the French bank Société Générale. This shareholding investment comes as the two groups expand cross distribution into Mexico and Latin America.
In January 2012, the companies signed a strategic alliance in North America. Manitou Americas distributes Yanmar’s compact excavators under the Gehl and Mustang brand names, while Yanmar America distributes Compact Equipment skid steers and track loaders under its brand name. The companies also have a 25-year engine partnership.
“To include Yanmar among the shareholders that accompany and support our development is proof of the solidity of our industrial and familial model and its growth potential,” said Dominique Bamas, president and CEO of Manitou.
Empowered by this capital link, Manitou and Yanmar will seek other development opportunities while working to reinforce their independent dealer networks.
“Product expansion opportunities are currently underway to develop distribution networks for the Gehl and Mustang branded excavators in Mexico, Central America and Latin America,” Bamas said. “The expansion of our excavator distribution will extend our brand exposure as well as provide greater opportunities for increased business. Working with our current dealer distribution network throughout these regions, this valuable opportunity to enter the growing excavator market segment will lead to our mutual success for increased revenue and a strengthened strategic alliance with Yanmar."