A proposal that would have made farm equipment maker Brandt the exclusive dealer for Topcon GPS equipment in Canada has fallen through without a sealed deal.
GeoShack Canada, the “master dealer” for TopCon equipment in Ontario through its locations in Toronto, Ottawa and London, announced Tuesday that a completed acquisition by the Regina-based Brandt Group “has not been attained.”
Brandt had announced a deal June 3 to buy the assets of GeoShack Canada Co. — and the Canadian assets of a related company, Inteq Distributors — from their Dallas-based owner, Ultara Holdings, for an undisclosed sum.
GeoShack’s Ontario arm handles sales, service, and rentals of Topcon’s geopositioning gear for the ag, construction, survey and engineering industries. California-based Topcon’s products for the ag sector include precision seeding, spraying and harvest equipment and autosteer and guidance systems.
Brandt has a “pre-existing Topcon footprint” as the company’s dealer in Western and Atlantic Canada — and it reached a separate agreement last month with Topcon for distribution rights in the Quebec market.
The deal for GeoShack Canada, which had been expected to close last Friday, this would have made Brandt “the exclusive dealer for Topcon construction and geopositioning products for all of Canada.”
“Despite several weeks of hard work by both the Brandt and GeoShack teams, a mutually beneficial deal that makes sense for our employees, our customers and our owners has not been attained,” GeoShack said in a release Tuesday.
The company didn’t say specifically why the sale fell through, though GeoShack president Scott Beathard, in the same release, said that “ultimately being able to continue to serve our customers well is what led us to the decision to remain a Topcon master dealer for Ontario.”
Beathard also said GeoShack had “worked very hard to build strong relationships and a solid operation in the Ontario market over the years.”
GeoShack has operated in Ontario since 2003, when it merged the Toronto- and Exeter-based businesses of Laserline Ontario with those of three other independent distributors in Texas, Ohio and Michigan.
It’s not yet known whether the GeoShack deal being called off will affect the separate deal between Brandt and Ultara for the Inteq assets. Neither Brandt nor Inteq had made any statement on the matter as of Wednesday. — Glacier FarmMedia Network