Farms.com Home   Ag Industry News

Agrium Hopes to Complete Purchase of Viterra Stores by Early 2013

Agrium to Buy Former Viterra Stores from Glencore Inc.

By , Farms.com

According to Agrium’s Chief Executive Mike Wilson, Agrium Inc. is expected to finalize the purchase of  the majority of Viterra’s Canadian and Australian farm supply stores by the end of 2012 or early 2013. Agrium is the largest U.S farm retail supplier and is paying approximately $575 million (CAD) for most of the retail outlets, which sell chemicals, seeds and fertilizers directly to farmers.

Swiss-based Glencore International Plc. is expected to complete its takeover of Viterra later this month. Richardsons International Ltd. will also purchase some of Viterra’s crop-processing sites and grain-handling elevators after Glencore’s takeover of Viterra is finalized.

With the exception of China’s Ministry of Commerce, which is still in the review process of the transaction, the Glencore – Viterra deal has received approvals from regulatory authorities; however, the purchase of Glencore assets  by Agrium and Richradson’s still awaits approval from the Canada’s Competition Bureau.


Trending Video

New Wheat Variety: Orange Blossom CL+

Video: New Wheat Variety: Orange Blossom CL+

Amanda De Oliveira Silva, OSU Extension small grains specialist, talks with SUNUP host Lyndall Stout about the OSU Wheat Improvement Team’s newest release, Orange Blossom CL+. Dr. Silva also discusses the unique characteristics of this new Clearfield variety, which will be available this summer with all the strong qualities the wheat industry needs, such as high yield potential, strong tolerance to leaf rust, stripe rust and spring freezes, and good milling quality.