ST. PAUL, Minn., March 17, 2014 /PRNewswire/ -- CHS Inc.
(NASDAQ: CHSCP), the leading U.S. farmer-owned cooperative and a
global energy, grains and foods company, has agreed to acquire
selected Canadian retail assets from Crop Production Services
(Canada) Inc., a wholly owned
subsidiary of Agrium, Inc., a major retail supplier of agricultural
products and services in North
America, South America and
Australia.
Under the agreement, 16 retail agronomy locations in the
provinces of Alberta and
Saskatchewan become part of the
Country Operations division of CHS. The transaction is expected to
be completed on or about April 1,
2014. Financial terms are not disclosed.
"We look forward to expanding our ability to serve farmers and
ranchers in Canada, and to being a
strong partner in their communities," said John McEnroe, executive vice president, CHS
Country Operations. "Our goal is always to add value for our
customers through local experts with global connections."
The newly acquired business will be able to take advantage of a
new 42,000-ton fertilizer plant outside Shelby, Mont. In its final stages of
construction, the facility, with 110-car shuttle loader access to
the BNSF line, is expected to open for the spring 2014 season.
About Agrium
Agrium Inc. is a major retail supplier of agricultural products and
services in North America,
South America and Australia and a leading global wholesale
producer and marketer of all three major agricultural nutrients and
the premier supplier of specialty fertilizers in North America through its Advanced
Technologies business unit. Agrium's strategy is to provide the
crop inputs and services needed to feed a growing world. It focuses
on maximizing shareholder returns by driving continuous
improvements to its base businesses, pursuing value-added growth
opportunities across the crop input value chain and returning
capital to shareholders.
About CHS
CHS Inc. is a leading global agribusiness owned by farmers,
ranchers and cooperatives across the
United States. Diversified in energy, grains and foods, CHS
is committed to helping its customers, farmer-owners and other
stakeholders grow their businesses through its domestic and global
operations. CHS, a Fortune 100 company, supplies energy, crop
nutrients, grain marketing services, animal feed, food and food
ingredients, along with business solutions including insurance,
financial and risk management services. The company operates
petroleum refineries/pipelines and manufactures, markets and
distributes Cenex® brand refined fuels, lubricants, propane and
renewable energy products.
This document contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995
that are based on management's current expectations and
assumptions. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from the potential results discussed in the
forward-looking statements. The company undertakes no obligations
to publicly revise any forward-looking statements to reflect future
events or circumstances. For a discussion of additional factors
that may materially affect management's estimates and predictions,
please view the CHS Inc. annual report filed on Form 10-K for the
year ended Aug. 31, 2013, which can
be found on the Securities and Exchange Commission web site
(www.sec.gov).
SOURCE CHS Inc.