GROWMARK and Suncor have reached an agreement in which GROWMARK will purchase Suncor’s 50% interest in UPI, Inc. in Ontario, Canada. The transaction, subject to conditions including regulatory approvals, brings GROWMARK’s ownership of UPI to 100%. Terms of the transaction were not disclosed.
UPI, Inc., headquartered in Guelph, Ontario, provides energy products including refined fuels, propane, and lubricants throughout Ontario.
Suncor and GROWMARK have also entered into long-term supply agreements for GROWMARK’s petroleum needs in Ontario.
GROWMARK is an agricultural cooperative with annual sales of $8.7 billion (FY 2015 data) providing agronomy, energy, facility planning, and logistics products and services, as well as grain marketing and risk management services in more than 40 states and Ontario, Canada. GROWMARK owns the FS trademark, which is used by affiliated member cooperatives.