WAYZATA, Minn. (AP) — Agribusiness giant Cargill Inc. is selling 18 retail crop input dealers to Canadian-based crop production services company Agrium Inc.
The companies said in a statement Wednesday that the locations have annual revenues of over $150 million. The outlets are in Nebraska, South Dakota, Minnesota, Wisconsin, Michigan and Indiana. The sale does not involve Cargill's Canadian crop input retail business.
Agrium president and CEO Chuck Magro said the retail locations are in areas of the Corn Belt where his company has a limited presence. Agrium's retail distribution network has over 1,400 facilities selling fertilizers, herbicides, insecticides, fungicides, seeds and services.
The group leader of Cargill's North American agricultural supply chain, Roger Watchorn, said that privately held Cargill will focus on being the world's leading merchant of grain and oilseeds.