United Suppliers, Land O'Lakes approve merger
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WASHINGTON, August 24, 2015 - The owners of United Suppliers, Inc. and members of Land O'Lakes, Inc. overwhelmingly approved the merger of United Suppliers with Land O'Lakes' crop inputs business. The two organizations announced their intent to merge on June 29.
"This merger will allow us to continue to meet our customers' needs through each company's successful go-to-market strategy while providing for the size and scale to compete in an environment of consolidating suppliers and competitors," said Chris Policinski, President and CEO of Land O'Lakes, Inc. in a press release. "We are excited to bring our WinField business and United Suppliers together and expect our members, owners and customers will benefit greatly from this merger."
Under the merger, Ames, Iowa-based United Suppliers, Inc. will join with Arden Hills, Minnesota-based Land O'Lakes, Inc.'s crop inputs business. The first step of the merger will be to combine the two companies' seed and crop protection businesses under Winfield US, LLC, and a second step will merge the crop nutrient business.
"Both organizations exist to increase our customers' capabilities and competitiveness. By coming together, we are true to our shared purpose, and we also preserve our different approaches to best serve a wide variety of customer needs," said Brad Oelmann, President and CEO of United Suppliers, Inc. "Together, we are positioned to protect and build the future of independent agricultural operations in an environment of consolidation."
In 2014, WinField had $4.9B in seed and crop protection product sales and United Suppliers had $2.6B in crop protection, seed and crop nutrient sales. Closing is anticipated in October 2015.
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