High-profile farmer and businessman John Nicoletti has sold his Ag Implements dealership network.
The sale was finalised in mid-July and the network has been bought by WA's largest John Deere dealership, AFGRI Equipment.
Mr Nicoletti was formerly the largest grain farmer in Western Australia and owns an extensive property portfolio.
He is in the process of selling sections of his property portfolio, including a controlling interest in the Murray River Land Trust Portfolio in northern Victoria which received new investment earlier this week.
AFGRI has a long history in agricultural services and processing - the company was started more than 90 years ago in South Africa.
It made its first investment in Australia in 2004 and a series of acquisitions followed over the next 15 years.
The Foreign Investment Review Board, with inputs from the Australian Competition and Consumer Commission, did not have any objections to AFGRI buying Ag Implements.
The acquisition has grown AFGRI's dealership network to 19, making it the second largest John Deere dealership in Australia after Vanderfield.
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AFGRI operations director Gollie Coetzee said the management team would implement the best practices of both businesses to ensure they could supply the market with premium products and service excellence.
Mr Coetzee emphasised that an important aspect of the acquisition was making the transition for new employees and customers as smooth and comfortable as possible.
"The main message for this acquisition is to ensure our new employees and customers experience an easy and similar approach to what they are used to," he said.
"With our mission and values being very similar to Ag Implements, we believe everything will continue to run smoothly and we are looking forward to what the future holds."
AFGRI commercial director Wessel Oosthuizen highlighted the acquisition would further expand their economies of scale and would benefit customers in the long run.
"Economies of scale allows us better efficiencies within the group, such as better whole goods and parts stocking capabilities, expanding on best practices and the increase in knowledge through the sharing of experience and information through the group, to name a few," Mr Oosthuizen said.
Tractor and Machinery Association of Australia executive director Gary Northover said dealership consolidations were happening across the globe.
"It's part of a worldwide trend and all to do with economies of scale and people being able to put the necessary investment in place to give customers the service they need," Mr Northover said.
"It's very difficult to do that if you are a smaller player and that is leading to the consolidations we are seeing."
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