Growmark buys Bunge’s interest in B-G Fertilizer
Growmark Inc., Bloomington, Ill., has agreed to purchase Bunge North America’s interest in B-G Fertilizer LLC.
B-G Fertilizer owns and operates the former CF Industries terminal located in Cincinnati, Ohio, to serve the needs of retail customers that provide fertilizer to farmers. Terms of the transaction were not disclosed.
“We have had a great working relationship with Bunge during the past two years,” said Jim Spradlin, Growmark vice president, agronomy. “The Cincinnati terminal has brought value to the dealers in the areas it serves and we look forward to continuing to provide the outstanding customer experience for which the team at Cincinnati is known.”
Growmark and Bunge also announced that Growmark will lease Bunge fertilizer assets located in Council Bluffs, Iowa and Fulton, Illinois. These facilities will be incorporated into the current Growmark portfolio to expand the cooperative’s scope and reach.
“We are pleased to announce the additions of Council Bluffs and Fulton to our existing terminal portfolio,” said Rod Wells, Growmark plant food division manager. “There are exciting opportunities at each facility to capitalize on truck transportation to their associated grain terminals in the form of back hauls. This should provide efficient sourcing opportunities for area retailers. The Council Bluffs facility, in particular, is new construction and state of the art. We look forward to serving the dealer network from these two locations.”
“Bunge realized benefits from our North American fertilizer business including our investment in B-G Fertilizer, but have decided to focus our investments in our other lines of business,” said Bailey Ragan, vice president, grain, biofuels and fertilizer for Bunge North America. “We look forward to continuing our strong relationship with Growmark through the lease of our terminals in Council Bluffs and Fulton.”
Overall, the acquisition and lease agreements represent approximately 130,000 tons of dry and liquid plant food storage.
Self-contained hydraulic system with power cables (hydraulic). Tandem Henschen axles (hydraulic). Hydraulic fenders. Manual or hydraulic tilt. 6,500-gallon tank.
- Dry weather, biofuel mandate to boost palm prices in 2014
- 2014 Farm Bill: Reallocating base acreage
- FAS administrator talks world ag export situation
- The Beige Book is out. The agriculture picture is not rosy
- New precision potassium fertilizer from AgroLiquid
- Ag markets ended the week in decidedly mixed fashion
- Are you in favor of a federal labeling standard for food that might contain genetically modified ingredients?
- Commentary: Barking up the wrong tree
- Water allocation for most drought-stricken Calif. farms to end
- Larson Electronics offers 150 Watt LED high bay light fixture
- Growth Points: Big data is about to get even bigger
- Update on the world’s 15 largest seed banks
13-Ton Rotary Direct Drive Blender
Adams Fertilizer Equipment