Agrium Inc. has entered a binding purchase agreement between its Crop Production Services (CPS) ag-retail business and Southern States Cooperative, Inc.
The acquisition will include 20 Southern States’ retail locations in southern Georgia and northern Florida. The dealer also includes a integrated cotton ginning business in Statesboro, Georgia.
Those locations have an annual reveal of over $100 million. The transaction is expected to close by the end of September.
"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," says Agrium's President and CEO, Chuck Magro. "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 U.S.”
"While we have great employees and customers in southern Georgia and northern Florida, this agreement will provide opportunity to these stakeholders and allow Southern States to optimally focus resources within our footprint to serve our members and customers more efficiently and effectively," says Southern States President and CEO, Jeff Stroburg.