American agribusiness Cargill is expanding its presence in Canada with the acquisition of Precision Ag, a crop inputs retailing business based in southeastern Saskatchewan.
Following the purchase, Precision Ag will continue operations under its own name and remain headquartered in Griffin, SK. Cargill said the businesses’ 23 employees and its four locations will not be impacted by the deal. Precision Ag’s leadership team will remain in place for the next three years.
“As we thought about our most strategic succession plan, we quickly agreed that selling to Cargill was the best decision given our shared values and interest in providing quality crop input services to farmers throughout Western Canada,” Jen Gerry, Precision Ag’s general manager, said in a recent press release. “We’re excited for our employees and customers as they will continue to receive the very best this long-term partnership represents, as well as the world-class professional services and resources Cargill brings to the future of our business.”
Cargill said the transaction will boost its network of grain and ag service businesses in the country, including an integrated mix of crop inputs, grain marketing, and consulting services.
“We look forward to carrying on Precision Ag’s legacy of outstanding service and building on expertise and trust our long-term partnership represents,” said Blaine Duncan, regional commercial leader for Cargill, in a statement. “As a global ag leader, we’re strategically positioned to advance Precision Ag’s business model in such dynamic market conditions. We’re honored the Precision Ag leadership team turned to Cargill to lead the next chapter of this business.”
Earlier this month, Cargill announced plans to invest $475 million in a project to modernize and expand its soy processing operations in seven US states.