Agrium signs equity deal with agricultural R&D firm
The partnership gives Agrium access to new products and provides CH Biotech with much needed research capital
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CALGARY—Loveland Products, Inc., a subsidiary of fertilizer company Agrium Inc., has agreed to take an equity stake in CH Biotech R&D Co., Ltd., an agricultural technology company that develops and markets plant health and nutrition technologies.
The deal gives Agrium exclusive worldwide distribution rights to CH Biotech’s existing plant health technologies, and access to new product and technology opportunities. It will also allow CH Biotech to further collaborate with Agrium to expand their plant health-focused research and development initiatives.
“This integrated strategic partnership and investment continues to build our offering of next-generation plant health technologies, allowing us to provide a diverse and highly complementary product portfolio to meet the changing needs of our grower customers around the world,” said Brent Smith, Vice President of Agrium’s Loveland Products. “We are highly focused on integrating and advancing our business and products with proprietary technologies, as evidenced by this and several other strategic investments made earlier this year. The pace at which technology in the plant health sector is advancing is rapid and we will continue to seek out complementary and innovative relationships in an effort to bring the advantages these products offer to the market in the most efficient manner.”
Agrium’s Loveland Products currently markets and distributes several CH Biotech technologies.
Agrium Inc. is a retail supplier of agricultural products and services in North America, South America and Australia, and a global aholesale producer and marketer of all three major agricultural nutrients and the premier supplier of specialty fertilizers in North America.