ASKO SUCCESSFULLY ACQUIRES FULL OWNERSHIP OF BUHLER INDUSTRIES INC.

ASKO SUCCESSFULLY ACQUIRES FULL OWNERSHIP OF BUHLER INDUSTRIES INC.

(TSX: BUI)

WINNIPEG, MB, April 16, 2025 /CNW/ - Buhler Industries Inc., parent company to the Versatile and Farm King brands, proudly announces the successful completion of its full acquisition by ASKO Sinai ve Teknoloji Üretim Sanayi Ticaret Anonim Şirketi (ASKO), a wholly owned subsidiary of ASKO Holding. This significant milestone concludes a strategic two-phase investment aimed at substantially enhancing Buhler Industries' value and solidifying its position as a leading player in the agricultural manufacturing sector.

On December 28, 2023, ASKO acquired a majority stake of Buhler Industries, at $1.15 per share and began investing in a corporate transformation. After over a year of business development, ASKO finalized the complete ownership acquisition by purchasing the remaining shares on March 28, 2025 at $7.30 per share. With a rise in share price from $1.15 to $7.30, the company realized a 535% increase in value, underscoring the success of the ASKO acquisition and its transformative strategy.

 "When we made our initial investment we recognized the immense potential within these historic brands and the people that drive them. ASKO's commitment to operational excellence has already yielded remarkable results. As we move forward, we remain focused on enhancing customer value and expanding market reach. Together, we are setting the stage for an immense future where Buhler Industries - and the Versatile and Farm King brands - thrive, while leading with quality and purpose," stated Mr. Sami Konukoğlu, Chairman of ASKO Holding. Mr. Konukoğlu continued, "Buhler Industries is a welcome addition to the ASKO Holding's family. We continue to grow globally in the agricultural and construction machinery sectors which align with our long term vision."

Over the past 15 months, Buhler Industries has undergone a wide-ranging transformation. The company started with a deep review of its operations, leading to more effective resourcing and streamlined processes. Versatile and Farm King have actively engaged with dealers and customers, fostering collaboration and ensuring their insights guide the company's continued development.

Improved supply chain management has helped reduce delays, manage costs, and speed up delivery times. At the same time, investments in modern technology and manufacturing operations have advanced product quality and positioned the company for sustained growth. A renewed focus on innovation has also aided the development of equipment tailored to the evolving needs of today's farmers.

Now under full ASKO ownership, Buhler Industries will broaden its product lineup and expand into new markets, helping to grow its customer base and increase market share. The dedication to enhancing operational strengths, focusing on new and existing customers, and exploring new growth opportunities are paving the way for an exciting chapter ahead. Buhler Industries, and its brands, will continue to build on their reputations centered on reliability, innovation and long-term value for their customers. With a solid foundation in place, the company is well-positioned for continued growth and success.

About ASKO
ASKO Holding is one of the few establishments where Türkiye's value-added manufacturing capabilities are exhibited. Maintaining its operations in four different sectors, such as work machinery, agricultural machinery, energy and technology, ASKO Holding provides employment to approximately two-thousand people. BAŞAK Traktör, operating under the umbrella of the Holding, is known as one of the oldest industrial corporations of Türkiye with over 110 years of history.

About Buhler Industries Inc.
Founded in 1932 and headquartered in Winnipeg, Manitoba, Buhler Industries Inc. manufactures high-quality agricultural equipment under the Versatile and Farm King brands. The company has a long-standing reputation for reliability, innovation and dedication to supporting farmers across North America and beyond.

SOURCE Buhler Industries Inc.