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Post by meskie on Dec 20, 2023 16:42:47 GMT -6
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Post by kevlar on Dec 20, 2023 17:00:12 GMT -6
Will this be a good thing or bad thing? Sure seems out of the blue.
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Post by meskie on Dec 20, 2023 17:16:27 GMT -6
I’m not sure. Did anything change when they bought out macdon?
Likely better they bought it then an international company and moved production elsewhere. I have been told there was a big ag company wanted to buy bourgault a few years ago but wouldn’t guarantee to keep
Production in St. Briuex so they acquired conservapak instead.
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Post by Oatking on Dec 20, 2023 17:17:13 GMT -6
Will this be a good thing or bad thing? Sure seems out of the blue. I think it will be a good thing . Linamar owns macdon , which I didn’t know either. I would rather see it owned by a short line company than go to John Deere. I can’t believe Case didnt buy it! |
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Post by kevlar on Dec 20, 2023 20:12:22 GMT -6
I wonder why they would sell? Family business with no one interested in taking over?
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Post by meskie on Dec 20, 2023 20:16:22 GMT -6
Getting out while the getting is good?
I don’t think there was any of the next generation working to take over from Gerry.
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Post by garyfunk on Dec 20, 2023 21:54:45 GMT -6
Ever since Macdon sold they are waayy behind in production. They can charge whatever they want because no other header or swather compares. There's getting to be a couple header manufacturers that are getting better and are going to take over though if the new management at Macdon don't get their act together.
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Post by hardrockacres on Dec 21, 2023 6:39:42 GMT -6
None of Gerry's kids are involved or seem to want to be. My wifes cousin is married to one of Gerry's daughters, she may be the closest to working there as she does patent research for them part time. Ink was dry on the sale a while ago. Had companies doing enviro assestments and core samples back in October to cross off the last sale caveats. With gerry in his 70's and no family member in training to take over this might jsut make the most sense.
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Post by kevlar on Dec 21, 2023 8:16:30 GMT -6
It’s always sad to see family run businesses having to sell because nobody wants to take it over, any business or farm, but you can’t always expect your children to want to do want you do. Hopefully the new company can run it as well as the Bourgault family has.
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BJT
Full Member
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Post by BJT on Dec 21, 2023 8:59:45 GMT -6
Macdon has went downhill since they sold. Ask any dealer that sells their stuff. I assume this will be the same. No large multi national business ever seems to care about customers like a family run business.
Better than Deere or case buying them? Probably.
Either way that’s a great local success story! Well done Bourgault family.
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Post by wheatking76 on Dec 21, 2023 9:35:48 GMT -6
kinda shocking, good for the family though, i guess maybe thing were maybe stuck where there are really, like how much bigger can these air drills get were already at 100ft and 1300 bushel carts maybe they didnt want to figure whats next
although i maybe should have bought the openers i priced out the other day i'm sure they jumped 10% in price
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Post by hardrockacres on Dec 21, 2023 10:03:53 GMT -6
Openers are Bourgault Tillage tools...Bourgault Ind, (Gerry), does not own tillage tools, his brother owns that entity. It is not part of the sale. so they are still lekely going up just like everything else. lol
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BJT
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Post by BJT on Dec 21, 2023 21:37:26 GMT -6
Not sure why people are surprised it sold. If the family has any idea how to handle money, many generations won’t have to work to hard if they don’t want to.
Obviously next generations weren’t interested in taking over so not many other choices.
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Post by kenmb on Dec 22, 2023 10:26:21 GMT -6
Family doesn't necessarily have to take over though. Many companies operate with a board of directors while the actual owners are on an island somewhere.
I wish small companies would stay small companies. It's how you have competition to the large corporations who impose their will on an industry. It's why we have the discussion right now on right to repair. If there are small companies still around and giving buyers the choice to shop elsewhere then everything is ok. But if 3 large corporations dominate 90% of the market and they all decide it is their equipment and not the buyers, then the buyers don't have an option.
The way I look at things is this is a pivotal moment, there is no turning back. A path has been started. Where as if the family still owned the company even though management is done by others then the Bourgault company still would exist on its present path. Sure, one could argue the company can tank, become worthless due to bad management, whatever.
In my view of the world we have been conditioned to thinking of $$$ instead of owning assets and things that produce items that continue to generate wealth. This sale strikes me as a perfect example. A one time exchange of real assets for $$$ that can't be undone. The intelligent play is the same group of people keep owning the assets and generating a return but that means no quick gratification of instant $$$.
Real wealth is built over generations. Those that got wealthy fast with no long term staying power quickly disappear because those dollars quickly disappear. They may exist digitally as stocks and bonds and such but still not the same as truly wealthy people who actually own things - like a thriving company.
It is what it is because it is how we have been conditioned to think and thus act. $$$ now are more desirable than an entity that its existence is real and long term wealth.
I suppose I could put it more simply - is the new corporate owner being run by a single person or a couple of family members? Likely not. It is being operated by a board of directors and other managers making decisions such as whether or not to buy Bourgault. The Bourgault family has essentially handed off what they could have done to another entity who is going to do exactly that. But Bourgault gets $$$ now. I would imagine the family discussions were likely not too positive unless everyone thought exactly the same and desired the same future.
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