Quebec’s Coop fédérée Buys Agrico Canada Ltd.
By Jim Knisley
September 8, 2011 – La Coop fédérée has announced the acquisition of Agrico Canada Ltd, an independent business from Ontario specialized in the distribution of crop production inputs.
September 8, 2011 – La Coop
fédérée has announced the acquisition of Agrico Canada Ltd, an
independent business from Ontario specialized in the distribution of
crop production inputs. The financial terms of the agreement however have not been disclosed.
Upon concluding this transaction, La Coop fédérée takes ownership of the Ontario company through the acquisition of the business' head office as well as its 3 distribution centers, including a major port in Hamilton and two regional centers in St. Thomas, Ontario and Oak Bluff, Saskatchewan. The agreement also allows La Coop fédérée to get a stake in 11 retail companies, located in Ontario, Manitoba and Saskatchewan.
For employees of Agrico, the acquisition will not bring about any major changes since the company's mission and orientation will remain the same.
"The acquisition of Agrico Canada Ltd. will make it possible for our sector to pursue its development and to improve its competitive positioning in terms of input distribution in the field of crop production," says the chief executive officer of La Coop fédérée, Claude Lafleur.
"Furthermore, this wide ranging transaction will allow La Coop fédérée to consolidate the Ontario market and to reduce costs in Quebec, since it will now have a stronger hold on the market and be able to benefit from a judicious use of its commercial and harbor facilities along the seaway," added Mr. Lafleur.
La Coop fédérée is the Quebec federation of agricultural cooperatives. Founded in 1922, it now counts 85 affiliated cooperatives that group together more than 95,000 members. La Coop fédérée employs 10,429 and has nearly one hundred establishments across Quebec, Ontario and Alberta