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Agrium to Acquire Southern States Cooperative's Ag-retail Businesses in Georgia and Florida
Aug. 29, 2017 01:48PM PST
Agriculture InvestingAgrium (TSX: AGU) (NYSE: AGU) announced today a binding purchase agreement between its Crop Production Services (“CPS”) Ag-retail business and Southern States Cooperative, Inc. (“Southern States”) for the acquisition of 20 Ag-retail locations in the states of Georgia and Florida and its integrated cotton ginning business in Statesboro, Georgia. Anticipated annual revenue from these locations is over …
Agrium (TSX: AGU) (NYSE: AGU) announced today a binding purchase agreement between its Crop Production Services (“CPS”) Ag-retail business and Southern States Cooperative, Inc. (“Southern States”) for the acquisition of 20 Ag-retail locations in the states of Georgia and Florida and its integrated cotton ginning business in Statesboro, Georgia. Anticipated annual revenue from these locations is over $100-million.
Agrium’s President and CEO, Chuck Magro said:
“Agrium remains focused on enhancing our retail distribution network in the U.S. and this acquisition will allow us to further capitalize on our existing presence in these regions.
We would like to extend a warm welcome to the Southern States Ag-retail employees and are enthused to bring the latest in technologically advanced proprietary products and precision-ag services to grower customers in the southeastern US.”
The transaction is subject to customary closing conditions and is expected to close in September.
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