The acquisition is expected to strengthen Ritchie Bros.' penetration of Canada's agricultural sector and add key talent to our Canadian Ag sales and operations team.
"We are delighted to welcome the Kramer team to the Ritchie Bros. family. For more than six decades Kramer Auctions has developed strong, trusted farming relationships and deep community roots across the Canadian prairies, which has positioned the business as a leading agricultural auctioneer in Western Canada. Their family values, intense customer focus and innovative approach to delivering exceptional on-the-farm auctions are shared by the Ritchie Bros. team," said Ravi Saligram, CEO of Ritchie Bros.
Operating for more than 65 years, Kramer Auctions has established a leading market position in Alberta, Saskatchewan, and Manitoba as a premier agricultural auctioneer, offering both on-the-farm and on-site live auctions for customers selling equipment, livestock and real-estate in the agricultural sector.
The family-owned and operated business has developed deep, loyal customer relationships, which have been developed over three generations of management by the Kramer family. The business operates approximately 75 on-the-farm auctions, four on site auctions, and eight livestock (Bison) auctions each year, and sold more than CA$60 million of agricultural equipment, real-estate and other assets in the last year1. Like Ritchie Bros. Auctioneer auctions, Kramer Auction sales are conducted on an unreserved basis.
Kramer Trailer Sales was not acquired by Ritchie Bros. and remains owned by the Kramer family. All other terms of the transaction are confidential.