Featured Company News – Agrium Expands Agriculture Retail Business with Acquisition of Southern States Cooperative’s Ag-Retail Businesses in Georgia and Florida

Research Desk Line-up: CF Industries Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Agrium Inc. (NYSE: AGU), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=AGU. The Company announced on August 29, 2017, that it is acquiring Southern States Cooperative, Inc.’s Ag-retail businesses in Georgia and Florida. The agreement was signed between Agrium’s Crop Production Services (CPS) Ag-retail business and Southern States Cooperative. The agreement covers Southern States’ 20 Ag-retail locations in the states of Georgia and Florida as well as the integrated cotton ginning business in Statesboro, Georgia. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Agricultural Chemicals industry. Pro-TD has currently selected CF Industries Holdings, Inc. (NYSE: CF) for due-diligence and potential coverage as the Company announced on August 02, 2017, its financial results for Q2 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on CF Industries when we publish it.

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The financial terms and other conditions of the agreement were not disclosed. The deal is expected to close in September 2017, subject to customary closing conditions. Agrium expects that the acquisition will add over $100 million to its annual revenues. Agrium is looking at expanding its retail distribution network in US through planned and strategic acquisitions. The current acquisition will allow the Company to expand its reach across Georgia and Florida.

Commenting on the acquisition, Chuck Magro, President and CEO of Agrium, said:

“Agrium remains focused on enhancing our retail distribution network in the US and this acquisition will allow us to further capitalize on our existing presence in these regions. We would like to extend a warm welcome to the Southern States Ag-retail employees and are enthused to bring the latest in technologically advanced proprietary products and precision-ag services to grower customers in the Southeastern US.”

Jeff Stroburg, President and CEO of Southern States, added:

“While we have great employees and customers in southern Georgia and northern Florida, this agreement will provide opportunity to these stakeholders and allow Southern States to optimally focus resources within our footprint to serve our members and customers more efficiently and effectively.”

The current deal gains prominence in the backdrop of the Agrium/PotashCorp merger. In June 2017, Agrium and Potash Corp. of Saskatchewan Inc. (PotashCorp) (NYSE: POT) announced their merger. The merger is expected to close in Q3 2017 and on closure, the new merged Company would be named Nutrien. The merger would create a global leader in reliable, low-cost crop nutrient production, with the largest agricultural retail-distribution network in the world.

About Agrium and CPS

Calgary, Alberta based Canadian company Agrium is a global producer and distributor of agricultural products, services and solutions. Agrium produces nitrogen, potash and phosphate fertilizers, with a combined wholesale nutrient capacity of approximately eleven million tonnes and with significant competitive advantages across their product lines. The Company supplies key products and services directly to growers, including crop nutrients, crop protection, seed as well as agronomic and application services.

Agrium’s business is divided into two units – Agrium Retail and Agrium Wholesale. Crop Production Services (CPS) operates under Agrium Retail and operates a chain of retail outlets that sell agriculture products in US and Canada. Its products and services include Crop Protection, Fertilizers and Nutrients, Dyna-Gro Seed performance seed for high-quality yields, and Echelon – a precision agriculture solution backed by industry-leading analysis and advice from agronomists.

About Southern States

Richmond, Virginia based Southern States was founded in 1923 and is one of the nation’s largest farmer-owned farm supply retailer and service cooperative. It provides a wide range of farm inputs, including fertilizer, seed, livestock feed, pet food, animal health supplies, and petroleum products, including items for the farm and home. The cooperative is owned by 200,000 plus farmer-members and caters to members as well as non-members through 1,200 retail outlets in 23 states.

Last Close Stock Review

Agrium’s share price finished yesterday’s trading session at $97.01, marginally falling 0.20%. A total volume of 231.23 thousand shares have exchanged hands. The Company’s stock price advanced 5.37% in the last three months, 1.95% in the past six months, and 1.31% in the previous twelve months. Shares of the Company have a PE ratio of 23.36 and have a dividend yield of 3.61%. The stock currently has a market cap of $13.36 billion.

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