International Tractors (ITL), one of the leading tractor exports brand part of the Sonalika Group, has through its Netharlands-based subsidiary Solis Tractors & Agricultural Machinery acquired Germany-based Thaler for Rs 200 crore.
Thaler specialises in wheel loader manufacturing and will complement ITL advanced portfolio with high-quality wheel loaders in the 19-75 HP range. The company says wheel loader market offers a huge growth potential with annual sales of more than 80,000 units. Post-acquisition, Thaler will continue to operate with an unchanged brand identity and will be led by Manfred Thaler, as the MD, who is also the son of company founder Johann Thaler.
The move will allow ITL to maximise its production capacities and network in Europe which will add to its growth trajectory in the region. In India, Solis has collaborated with Japanese agri-tech expert Yanmar to develop premium technology powered tractors.
Dr. Deepak Mittal, MD, International Tractors said, “We are excited to announce the acquisition of Thaler under our Netherlands-based entity Solis Tractors & Agricultural Machinery and we will invest Rs 200 crore for the deal. A leading brand in wheel loader manufacturing, Thaler is well known wheel loader manufacturer in Europe which is known for its reliability and craftsmanship in developing next gen technologies. Being the largest tractor exports brand from India, wheel loaders will be an advantage for our portfolio as they have enormous potential for agriculture, dairy and construction work across EU and USA markets. The move will surely provide high end synergies to existing ITL agri-equipment portfolio and strengthen our existing presence in more than 140 countries across the world.”
Manfred Thaler, Owner, Thaler said, “We are pleased and excited about this acquisition by ITL Group and we believe that this acquisition will bring the ITL expertise into the wheel loader segment. ITL has proven record in tractor segment and they have the largest tractor manufacturing plant in India. Their experience of the industry will enrich the Thaler brand & its employees.”
The formal takeover was executed at Thaler Factory & Office, Germany in the presence of Dr. Deepak Mittal, Managing Director, ITL Group and Manfred Thaler, Owner, Thaler.