A synergistic formula for growth
JOLIETTE, QC, Jan. 12, 2021 /CNW Telbec/ - Agro-100 Limited of Joliette Quebec has become the majority shareholder of Axter Agroscience Inc. of St-Hilaire Quebec. Axter Agroscience is a leader in biostimulant products that rely on technologies that activate natural physiological processes in plants. Agro-100 has taken over the shareholder position which was heretofore held by an institutional investor based in Western Canada. The amount of the transaction will not be disclosed.
The announcement was made today by Stéphane Beaucage, CEO of Agro-100 and Pierre Migner, CEO of Axter Agroscience. "The beauty of this synergy lies in the fact that it will significantly increase research and development (R&D) activities. "This will benefit all clients in the family" say the two leaders. Pierre Migner says the two companies will remain independent and autonomous and all Axter employees will keep their jobs.
The leaders say medium and long-term prospects for growth are very encouraging. "In a context where food autonomy is of the essence in Quebec and elsewhere in Canada, this merging of talents and technologies is a natural" says Stéphane Beaucage. He says he is convinced that new market opportunities will open up for Agro-100 and Axter Agroscience, thanks to their respective competitive positioning, which will become more dynamic and synergistic in the North American market. "A natural convergence that will foster the emergence of a stronger niche marketing force."
"This will allow us to develop robust efficiencies, while giving us better bilateral access to markets" says Pierre Migner. The transaction includes the Axter brands Herbu and Urbanature, which promote the use of environmentally responsible product technologies that reduce the application of fertilizers and pesticides and improve the survival of lawns, trees and shrubs in drought conditions.
Stéphane Beaucage of Agro-100 speaks of a "win-win" situation for both companies thanks to the pooling of highly skilled scientific partners in research and development via the universities of Laval, McGill and Guelph (ON), in addition to independent research centers such as the Grain Research Center (CEROM). The global market for inputs used in crop production exceeds 230 billion dollars. Bio-stimulants represent but 0.6% of this amount, although total expenditures in this area are expected to exceed 3 billion dollars.
CEOs Beaucage and Migner say the Agro-100 and Axter Agroscience names will continue to be synonymous with green agriculture, as the needs of discriminating farmers and consumers drive the demand for quality and sustainable yields in vegetable, fruit and potato crops, throughout North America and beyond.
SOURCE Agro-100
Source: Stéphane Beaucage, President and Chief Executive Officer - Agro-100 Ltd.; Pierre Migner, Agr., President and CEO - Axter Agroscience Inc.; Contact: Alexandre Dumas, 514-898-4636 (Mobile) / 514-843-1901 (Direct line), [email protected]
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