Agrium's (AGU) CPS Unit Makes Two Acquisitions for U.S. Retail Expansion
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Agrium Inc. (NYSE: AGU) announced that it has received regulatory approval for its Retail business, Crop Production Services ("CPS"), to acquire 16 locations in Western Canada from Andrukow Group Solutions Inc. The transaction is expected to be completed by mid-September. Additionally, CPS recently completed the acquisition of 18 locations from Cargill AgHorizons (U.S.) across the northern U.S. Corn-Belt region.
"These acquisitions demonstrate our continued focus on growing our Retail business in key strategic regions, and will allow us to better serve our customers and provide benefits to growers," commented Agrium's President and CEO, Chuck Magro. "The acquired locations will increase our Retail presence close to our manufacturing facilities in Western Canada, where we can optimize freight and handling, and in the U.S. Corn Belt, where we are under-represented in a key growing region. We remain committed to the strategy of growing our Retail business through multiple growth levers, including acquisitions, where we have a full pipeline of opportunities."
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