CNH Industrial is acquiring Raven Industries and its growing number of autonomous agriculture technologies.
The two companies have worked together for years.
“Precision agriculture and autonomy are critical components of our strategy to help our agricultural customers reach the next level of productivity and to unlock the true potential of their operations,” said Scott Wine, Chief Executive Officer, CNH Industrial.
Raven has been focusing on autonomy for years, including the purchase last year of the Dot autonomous power platform developed in Canada, recently renamed Omnipower. It also has an autonomous grain cart product.
“The combination of Raven’s technologies and CNH Industrial’s strong current and new product portfolio will provide our customers with novel, connected technologies, allowing them to be more productive and efficient,” says Wine.
“Our board and management are excited about this partnership and what it means for our future,” said Dan Rykhus, president and chief executive officer for Raven Industries.
“By coming together with CNH Industrial, we believe we will further accelerate that path as well as bring tremendous opportunities and value to our customers — once again fulfilling our purpose to solve great challenges,” says Rykhuis. “Our relationship with CNH Industrial has expanded over decades, and we have a deep respect for one another and a shared commitment to transform agriculture practices across the world.”
Raven Industries is organized into three business divisions: Applied Technology (precision agriculture), Engineered Films (high performance specialty films) and Aerostar (aerospace) with consolidated net sales of US$ 348.4 million for the 12 months ended Jan. 31, 2021.
The company is a global technology partner for key strategic OEMs, agriculture retailers and dealers.
The companies announced the deal June 21.