GREELEY, Colo. -- UAP Holding Corp. announced that its subsidiary, UAP Distribution Inc., has entered into a definitive agreement with AGSCO Inc. to acquire certain assets of its retail distribution business and its affiliated services businesses, Ag Depot Inc.

This agreement is subject to customary closing conditions.

AGSCO is a leading regional distributor of chemicals with a growing seed and fertilizer business. AGSCO has multiple retail locations in Minnesota, Montana, North Dakota and South Dakota, and has approximately 37 sales people.

Ag Depot is a warehouse business for agricultural chemical suppliers. The acquisition is expected to close in our fourth fiscal quarter.

"The acquisition of AGSCO Inc. solidifies UAP's presence in this key regional market and demonstrates UAP's commitment to expanding its retail distribution business," said Kenny Cordell, UAP Holding Corp.'s chairman, president, and CEO. "We continue to march forward on our acquisition strategy that should grow revenue, strengthen margins, expand the opportunity for our proprietary products and fill-in gaps in our nationwide footprint."

UAP Holding Corp. is the holding company of United Agri Products Inc., the largest independent distributor of agricultural and non-crop inputs in the United States and Canada. United Agri Products markets a comprehensive line of products, including crop protection chemicals, seeds and fertilizers, to growers and regional dealers. United Agri Products also provides a broad array of value-added services, including crop management, biotechnology advisory services, custom blending, inventory management and custom applications of crop inputs.

United Agri Products maintains a comprehensive network of approximately 340 distribution and storage facilities and three formulation and blending plants, strategically located throughout the United States and Canada.

SOURCE: UAP Holding Corp. via PR Newswire.