GROWMARK purchases Agway’s agronomy, seed businesses – Newsline
Agricultural supplier GROWMARK Inc., of Bloomington, Ill., has sealed the purchase of the agronomy and seed business units of Agway Inc., Syracuse, N.Y. The deal includes the assets of Seedway Inc. production facilities, wholesale and retail agronomy facilities plus Agway’s equity interest in CF Industries and Allied Seed LLC.
Bill Davisson, GROWMARK CEO, has named Ed Rodenburg, vice president of eastern retail operations, to head the cooperative’s new Northeast operations. He had been the cooperative’s Ontario region manager in 1994 and later managed the agribusiness of Agricore in Calgary, Alberta, Canada before rejoining GROWMARK in October.
“As we bring the red and black `FS’ brand to farmers in the eastern United States, I’m confident they will be beneficiaries of the professional people, product and services that create solutions to farmers’ unique challenges,” Davisson said. “Our vision is to improve long-term farm profitability through innovation and commitment to excellence.”
GROWMARK provides agricultural-related products and services to local cooperatives in Illinois, Iowa, Wisconsin and the Canadian province of Ontario. GROWMARK’s predecessor, FS Services, was one of the founding cooperatives of CF Industries. Davisson is currently board chairman of the interregional fertilizer manufacturing and distribution cooperative.
Meanwhile, due diligence is expected to be completed by Jan. 1, 2003, in the alignment between GROWMARK’s consumer division and Country Depot franchise dealerships and TruServ Canada’s chain of cooperative hardware stores. The original letter of intent to align was signed Sept. 11. Details of the combination are pending. GROWMARK has had a presence in Canada since it purchased United Cooperatives of Ontario in 1994.
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