Winnipeg, Manitoba
February 1, 2007
Agricore United
(TSX:AU) today announced that it has closed the acquisition of
Green Acres Fertilizer Service (Major) Inc., Green Acres
Chemical Ltd. (collectively Green Acres) and Kerrobert Agro
Services Ltd. (Kerrobert), two full service crop production
businesses in western Saskatchewan. The acquisition was
previously announced on December 14, 2006. The acquisition will
complement Agricore United's existing grain operations at
Kindersley, Provost and Wilkie, Saskatchewan. Financial terms of
the transaction were not disclosed.
"Finalizing the acquisition of Green Acres and Kerrobert lets
Agricore United continue building on the momentum of the past
five years," says Brian Hayward, Chief Executive Officer. "We
are enhancing our grain handling and crop input retail position
with the addition of these two retailers, in keeping with our
stated strategic intent."
Agricore United is one of Canada's leading agri-businesses with
headquarters in Winnipeg, Manitoba and extensive operations and
distribution capabilities across western Canada, as well as
operations in the United States and Japan.
Agricore United uses its
technology, services and logistics expertise to leverage its
network of facilities and connect agricultural customers to
domestic and international customers and suppliers. The
company's operations are diversified into sales of crop inputs
and services, grain merchandising, livestock production services
and financial services. Agricore United's common shares are
traded on the Toronto Stock Exchange under the symbol "AU". |