Duluth-based AGCO Corp. has agreed to purchase United Kingdom-based Sparex Holdings Ltd. for about $85.6 million.
Based in the city of Exeter, Sparex is a supplier of accessories and tractor replacement parts for used agricultural equipment.
Sparex has operations in 17 countries and exports to 75 countries, according to a news release.
The transaction is expected to close by the end of 2010, pending regulatory approval.
The acquisition is the second announced by AGCO within the last week. The company agreed to buy the remaining stake in its Italian joint venture for $92.45 million.