Sime Darby acquires Gough Group
Sime Darby has announced it has taken over the Gough Group, responsible for the Caterpillar brand in New Zealand.
In a statement today, Sime Darby said the Gough Group transaction would be the largest for the conglomerate since the restructuring exercise in 2017.
“It provides a rare opportunity for us to enhance our relationship with Caterpillar, and gain exposure to the construction and forestry sectors in New Zealand, further reinforcing Sime Darby Industrial’s footprint in the Asia Pacific region,” said a spokesperson.
“The Gough Group’s transport and material handling portfolio will complement Sime Darby Motors’ commercial truck business in New Zealand. It will also enable growth in aftersales operations and broaden our suite of franchises, strengthening our position in Australasia,” Sime Darby’s group chief executive officer Datuk Jeffri Salim Davidson added.
The deal is expected to be completed by September 30, 2019.