India, April 22 -- Carr's Group plc (CARR), a company centered on agricultural operations, Tuesday has finalized the sale of its Engineering Division to Cadre Holdings, Inc.
The deal, initially announced on January 16, 2025, was completed for £75 million in cash, on a cash-free, debt-free basis. This move aligns with Carr's strategic intent to reposition itself as a dedicated global agriculture business.
Following the sale, the board intends to distribute up to £70 million to shareholders through a Capital Return, subject to approval. The remaining funds will be used to enhance the Agriculture division and support strategic expansion.
As part of its refined agricultural focus, Carr's outlined a new strategy aimed at boosting op...