CALGARY, ALTA. — Agrium Inc., through its Crop Production Services business, has reached an agreement to acquire 18 ag retail locations from Cargill AgHorizons. The outlets are located across the northern U.S. Corn Belt region, in the states of Nebraska, South Dakota, Minnesota, Wisconsin, Michigan and Indiana, and have annual sales of approximately $150 million.
The transaction does not include Cargill’s Canadian crop input retail business.
|Charles Magro, president and c.e.o. of Agrium|
“This acquisition demonstrates our continued focus on growing our North American ag retail business, particularly in the highly desirable U.S. Corn Belt,” said Charles V. Magro, president and chief executive officer of Agrium. “The locations are in regions where we currently have a limited presence. This acquisition will allow us to capitalize on synergies related to the introduction of our proprietary products and services, and leveraging our extensive distribution network.”
|Roger Watchorn, group leader of Cargill’s North American agricultural supply chain|
Roger Watchorn, group leader of Cargill’s North American agricultural supply chain, said, “Cargill will focus on being the world’s leading merchant of grain and oilseeds. We remain steadfast in our commitment to help farmers succeed by ensuring they remain competitive in the global market and being as efficient as possible in getting products from origins to destinations.”Agrium produces and distributes agricultural products and services in North America, South America, Australia and Egypt through its agricultural retail-distribution and wholesale nutrient businesses. The company supplies growers with crop nutrients, crop protection, seed, and agronomic and application services, and produces nitrogen, potash and phosphate fertilizers, with a combined wholesale nutrient capacity of over nine million tonnes. Agrium owns more than 1,400 facilities and approximately 3,800 crop consultants.