Source: Gavilon LLC

Gavilon, LLC and DeBruce Companies have signed a definitive agreement under which DeBruce will become a wholly owned subsidiary of Gavilon. Upon completion of the transaction, founder and chief executive officer, Paul DeBruce, will continue to serve in his current role and join Gavilon's board of directors. Larry Kittoe, chief operating officer of DeBruce, will also continue to serve in his current role.

"We are pleased to make this announcement with DeBruce and are enthusiastic about the potential this strategic combination will offer our customers, suppliers and employees," commented Greg Heckman, president and chief executive officer of Gavilon. "This transaction will result in a company that is extremely well-positioned to meet rapidly growing demand for agricultural resources worldwide, by expanding our North American footprint and nearly doubling access to supply."

Original news release