MONTREAL, Sept. 6, 2011 /CNW Telbec/ - Today, subsequent to a buy-sell
agreement, La Coop fédérée announced the legal 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
"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,
"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
SOURCE LA COOP FEDEREE
For further information:
Sébastien Léveillé, Agronomist
Senior Director - Business development and communications - La Coop fédérée
Office : 514 858-2049 - Cell : 514 605-9548
Courriel : sebastien.leveillé@lacoop.coop