Jun 10, 2024Agricultural cooperative Growmark to acquire agrichemical company
Agricultural cooperative Growmark plans to acquire St. Louis-based agrichemical manufacturing company AgraForm LLC. The Illinois-headquartered co-op has signed a letter of intent to acquire the company.
Terms of the deal, expected to close at the end of this month, were not disclosed.
AgraForm provides bulk formulation, agrichemical processing, spray drying, milling, packaging and storage services for chemical manufacturers.
“This purchase enables us to grow efficiently in these product lines while providing the opportunity to produce proprietary product offerings in the future,” Growmark CEO Wade Mittelstadt said in a news release. “We can also strengthen our relationships with key suppliers who currently utilize AgraForm’s state-of-the-art manufacturing facilities.”
AgraForm operates two properties in St. Louis, one for manufacturing and one for dry storage.
“The AgraForm Team is extremely excited to partner with Growmark to couple formulation processing with distribution for additional long-term value and growth for our current clients, Growmark customers, and FS cooperatives,” Ron Cunningham, AgraForm president, said in the release.
Illinois-headquartered Growmark serves almost 400,000 customers across North America, providing agronomy, energy, facility engineering and construction, and logistics products and services, as well as grain marketing and risk management. Growmark owns the FS trademark, which is used by member cooperatives.
