Koch Buys Agrotain International
27 July 2011 Agrotain International has signed a definitive agreement to sell its assets to Koch Agronomic Services LLC, a subsidiary of Koch Fertilizer. The transaction is subject to regulatory approval and is expected to close in the third quarter.
“The Agrotain business has experienced great success and such rapid growth that additional resources are needed to meet demand,” said Mike Stegmann, president of Agrotain International. “We saw how their resources could help bolster our position as a market leader in the enhanced efficiency fertilizer business and it evolved into an offer to purchase.”
“Koch Agronomic Services’ vision is to bring enhanced efficiency fertilizers and value-added technologies to the marketplace,” said Steve Packebush, president of Koch Fertilizer. “By combining the assets, products, research capabilities and global footprint of Koch Fertilizer and Koch Agronomic Services with Agrotain International, I believe we will offer our customers the most comprehensive portfolio of value-added products on the market today.”
Stegmann expressed his sincere desire to continue growing the business and said the potential deal with Koch was the best way to provide for a successful future. He also clarified that Lange-Stegmann Company was not part of the purchase offer and would continue its terminal operations in St. Louis.
Agrotain’s St. Louis operations will be folded into Koch Agronomic Services, but the Agrotain brands will remain in the market place.
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