Alamo Group To Acquire Bush Hog

SEGUIN, Texas (AP) — Agriculture and road maintenance equipment maker Alamo Group Inc. said Friday that it agreed to acquire Bush Hog LLC, an outdoor equipment producer, in an all-stock transaction.

CC Industries Inc., owner of Bush Hog, will receive 1.7 million shares of Alamo Group stock, representing 14.5 percent of Alamo's common stock. At Friday's closing price of $13.87 the deal would be valued at $23.6 million. The deal is expected to close in 90 days.

Selma, Ala.-based Bush Hog makes rotary cutters, mowers and other landscaping tools and will become part of Alamo's North American agricultural division.

CC Industries will also receive a seat on Alamo's board of directors.