Ritchie Bros. has bought Kramer Auctions.
The four key leaders of Kramer Auctions – Neil Kramer, Kim Kramer, Brendan Kramer and Michael Higgs, have all joined Ritchie Bros. and will continue overseeing auctions in the Prairie provinces under the Kramer Auctions brand, a company release said.
All full-time employees of Kramer Auctions have also been offered continued employment with Kramer Auctions, through Ritchie Bros.
Kramer Auctions has one permanent auction site, which Ritchie Bros. intends to lease from the Kramer family for the foreseeable future, located in North Battleford, Sask.
The acquisition is expected to significantly strengthen Ritchie Bros.’ penetration of Canada’s agricultural sector and add key talent to the Canadian Ag sales and operations team, the release said.
“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.” said Ravi Saligram, CEO of Ritchie Bros. said in a news release.
Operating across the Prairies for more than 65 years, Kramer Auctions has offered both on-the-farm and on site live auctions for customers selling equipment, livestock and real estate in the agricultural sector.
The business operates about 75 on-the-farm auctions, four on site auctions, and eight livestock (Bison) auctions each year, and sold more than $60 million of agricultural equipment, real estate and other assets in the last year.
Kramer Trailer Sales was not acquired by Ritchie Bros. and remains owned by the Kramer family. All other terms of the transaction are confidential.