Caterpillar Inc. has entered into an agreement to acquire John Fabick Tractor Company (Fabick), a long-standing Cat dealer for over 100 years. The company services portions of Missouri, Illinois, the entire state of Wisconsin, and the Upper Peninsula of Michigan.
The purchase will mark Cat's first completely owned dealership in the world outside of Nippon Caterpillar Ltd. (NCL), the largest Cat dealer in Japan.
The agreement reflects a customer-focused decision to support a seamless transition of Fabick ownership while maintaining the strong service and local support customers know and value today.
"We're incredibly proud of our team and the customer relationships we've built over the past 100 years," said Jeré Fabick, Chairman, CEO and dealer principal of Fabick.
Fabick COO Todd Stanley added, "We are excited for this next chapter with Caterpillar. This will enhance our ability to provide our customers with unmatched services, technology and expertise."
The agreement requires approval by regulatory authorities and is subject to other customary closing conditions. The transaction is expected to close within 30 days.
100 North East Adams Street
Peoria, IL
US, 61629
Website:
cat.com
1 Fabick Drive
Fenton, MO
US,
Website:
fabickcat.com