Agrium completes acquisition of Evergro Canada
ALL AMOUNTS ARE STATED IN U.S.$ UNLESS OTHERWISE INDICATED
Calgary, Alberta -- Agrium Inc. (TSX and NYSE: AGU) announced today the acquisition of Evergro Canada (“Evergro”), based in Vancouver, British Columbia. Evergro is the leading manufacturer and distributor of horticultural and professional turf products in Western Canada and operates seven distribution, blending facilities throughout British Columbia and Alberta with annual revenues of approximately $60-million.
Evergro will be integrated into Agrium Advanced Technologies (“AAT”), within its Direct Solutions business segment, which operates primarily in the eastern regions of Canada and the United States. The acquisition will enable Agrium to expand its footprint within Canada, while enhancing its expertise in providing controlled release fertilizers, pest control and soil amendment products as well as turf and vegetable seed products to the North American specialty marketplace. Evergro’s blending and bagging facility, located in Delta, British Columbia, will also provide AAT with expanded support for its growing business within the Pacific Rim.
“The acquisition of Evergro will enable us to build upon our strengths as a first class distributor and expand our geographic and product reach to meet the growing needs of our customers. We are confident that the resulting enhanced product and service offering will position AAT as an industry-leader and allow us to realize significant synergies as we continue to grow our business,” said Agrium Senior Vice President & AAT President, Andrew Mittag.
Given the complementary nature of the sales and operational functions of the two companies, it is anticipated that there will be limited disruption to customers. Moving forward, the combined company will operate as AAT Direct Solutions, becoming Canada’s largest supplier to professional turf and horticulture customers.
Agrium Inc. is a major Retail supplier of agricultural products and services in North America, South America and Australia and a leading global Wholesale producer and marketer of all three major agricultural nutrients and the premier supplier of specialty fertilizers in North America through our Advanced Technologies business unit. Agrium’s strategy is to grow across the value chain through acquisition, incremental expansion of its existing operations and through the development, commercialization and marketing of new products and international opportunities. Our strategy places particular emphasis on growth opportunities that both increase and stabilize our earnings profile in the continuing transformation of Agrium.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.